TechnipFMC announced on November 18 2025 that it had secured a new integrated Engineering, Procurement, Construction and Installation (iEPCI) contract from Eni for the Maha deepwater project offshore Indonesia. The award is valued between $250 million and $500 million, adding a substantial order to the company’s already sizable backlog.
The contract marks the first deployment of TechnipFMC’s Subsea 2.0 configure‑to‑order platform in the Indonesian market. Subsea 2.0 is designed to shorten cycle times and reduce product costs by standardizing and modularizing subsea systems, umbilicals, risers and flowlines. By applying this platform to the Maha project, TechnipFMC can deliver a more predictable schedule and lower lifecycle cost for Eni’s development.
TechnipFMC’s relationship with Eni in Indonesia dates back to the Jangkrik project, a $720 million subsea systems contract awarded to FMC Technologies (now TechnipFMC) in 2015. The new Maha contract will tie back to the existing Jangkrik Floating Production Unit (FPU), reinforcing a long‑standing partnership and providing a seamless integration of new subsea infrastructure with existing production assets.
In Q3 2025, TechnipFMC reported revenue of $2.647 billion and net income of $309.7 million, or $0.75 per diluted share. The company’s inbound orders for the quarter were $2.648 billion, with Subsea orders totaling $2.4 billion. For 2025, management guided Subsea revenue to $8.4 billion–$8.8 billion. The Maha contract adds to this order intake, supporting the company’s revenue trajectory and providing a multi‑year revenue stream that aligns with its 2025 guidance.
The win underscores TechnipFMC’s strategic focus on integrated solutions and advanced technology platforms. Deepwater development remains a key growth area in the Asia‑Pacific region, and the Subsea 2.0 platform positions the company to capture a larger share of new projects by offering faster delivery and lower cost. The contract also signals continued demand for TechnipFMC’s iEPCI model, reinforcing its competitive advantage in the offshore oil and gas services sector.
Jonathan Landes, President of Subsea, said the project “marks another collaboration with a leading energy company to use our integrated execution model, enhanced by the benefits of our configurable product platform. The Maha development provides a significant opportunity to strengthen our relationship with Eni and deliver greater timeline certainty through the application of Subsea 2.0 technologies and integrated delivery.”
No market reaction data were available in the fact‑check sources, indicating that the announcement did not trigger a notable immediate response from analysts or investors.
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