TechnipFMC Awarded Limbayong Subsea Contract in Malaysia

TechnipFMC has secured an integrated Engineering, Procurement, Construction and Installation (iEPCI) contract from PETRONAS Carigali for the Limbayong deepwater project in Malaysia. This deal will be included in the company's third-quarter 2026 inbound orders and expands the firm's presence in the Southeast Asian offshore energy sector.

"This award builds on a continued relationship with PETRONAS. Through our integrated approach and Subsea 2.0® CTO platform, we can provide a unique solution focused on improving project economics, accelerating delivery and enhancing project execution for Malaysia’s offshore energy sector," said Jonathan Landes, President of Subsea at TechnipFMC, in a statement regarding the contract.

Project Scope and Technology

The project will be executed by FMC Wellhead Equipment Sdn. Bhd., a subsidiary of TechnipFMC. The company classifies the contract as "significant," a designation TechnipFMC uses for projects valued between $75 million and $250 million.

Central to the project's delivery is the use of TechnipFMC's Subsea 2.0 configure-to-order (CTO) platform. This technology uses standardized components configured to specific project requirements. This approach reduces the time required from initial design to final installation compared to traditional, bespoke subsea architectures.

Financial Context

The Limbayong project award arrives as TechnipFMC captures market share through its integrated iEPCI model, which bundles engineering and installation services to minimize interface risks for operators. As of September 18, 2026, TechnipFMC (FTI) stock was trading at $71.85.

For PETRONAS, the development of the Limbayong field is a priority in maintaining Malaysia's offshore production capacity. By utilizing the iEPCI approach, the operator aims to accelerate the timeline for bringing deepwater reserves online to optimize capital expenditure in complex subsea environments.