TechnipFMC plc FTI has secured a subsea contract from Azule Energy for the highly anticipated Greater PAJ development offshore Angola, reinforcing its position as a leading provider of advanced subsea production technologies. As per the press release, the contract is valued at $75 million to $250 million and will be recorded in inbound orders in the second quarter of 2026.
The project represents another major milestone for both companies as Angola continues to strengthen its role as one of Africa’s most important deepwater oil and gas producing regions. Through this agreement, TechnipFMC will deliver critical subsea infrastructure that will support the efficient transportation of hydrocarbons from deepwater wells to a newly developed floating production unit.
Greater PAJ Development Enhances Angola’s Offshore Energy Sector
The Greater PAJ project is located in Angola’s prolific offshore basin, an area recognized for its substantial hydrocarbon reserves and strategic importance to global energy markets. The development is designed to unlock additional production capacity while leveraging modern subsea technologies capable of operating in some of the industry's most challenging environments.
A key component of the project involves the installation of flexible flowlines and risers, which serve as vital connections between subsea wells and surface production facilities. These systems must operate reliably under extreme pressure, varying temperatures and challenging ocean conditions.
By selecting TechnipFMC, Azule Energy is relying on a company with a proven track record of delivering advanced subsea solutions for complex deepwater projects worldwide. The award underscores confidence in TechnipFMC’s engineering capabilities, manufacturing expertise and ability to execute large-scale projects on accelerated schedules.
Advanced Flexible Flowlines and Risers for Deepwater Operations
Under the contract, a UK-based oil and gas equipment and services company will be responsible for the design, engineering and manufacturing of flexible flowlines and risers that will connect production wells located in water depths approaching 2,000 meters.
Operating at such depths presents significant engineering challenges. Equipment must withstand intense hydrostatic pressure while maintaining structural integrity and operational efficiency over extended production periods. Flexible pipe technology has become a preferred solution in many deepwater developments because of its adaptability, durability and ability to accommodate dynamic offshore conditions.
The flexible flowlines will transport hydrocarbons from the seabed infrastructure, while the risers will provide the vertical connection to the floating production unit. Together, these systems form a critical part of the offshore production network, ensuring continuous and efficient resource extraction.
TechnipFMC’s advanced flexible pipe systems are specifically designed to reduce operational risks, improve installation efficiency and maximize long-term reliability. These advantages make them particularly valuable for projects operating in ultra-deepwater environments.
TechnipFMC’s Proven Deepwater Expertise in Angola
The Greater PAJ award further strengthens TechnipFMC’s long-standing presence in Angola and the broader West African offshore market. Over the years, the company has successfully participated in numerous major subsea developments across the region, building extensive expertise in deepwater engineering and project execution.
Angola remains one of the world’s most important offshore energy hubs, attracting substantial investment from international operators seeking to develop large-scale oil and gas reserves. As projects move into deeper waters and increasingly complex environments, demand for sophisticated subsea technologies continues to grow.
TechnipFMC’s experience in designing and manufacturing flexible pipe systems has enabled it to become a trusted partner for operators pursuing ambitious offshore developments. The company’s ability to deliver integrated subsea solutions helps streamline project timelines while maintaining high safety and performance standards.
Leadership Commentary Highlights Strategic Importance
Jonathan Landes, president of Subsea at TechnipFMC, emphasized the significance of the contract and its regional expertise.
According to Landes, the award builds upon extensive knowledge gained through participation in large deepwater projects throughout the region. He highlighted TechnipFMC’s proven flexible pipe technology as a key differentiator and expressed pride in being selected to provide a technically robust solution capable of meeting demanding project schedules.
The statement reflects TechnipFMC’s commitment to innovation, operational excellence and customer-focused project delivery. It also underscores the increasing importance of advanced subsea technologies in supporting the next generation of offshore energy developments.
Impact on TechnipFMC’s Order Book and Financial Outlook
The contract is expected to contribute significantly to TechnipFMC’s order intake during the second quarter of 2026. As part of the company’s inbound orders, the award strengthens visibility into future revenue streams and reinforces the resilience of its subsea business segment.
The award also highlights ongoing investment in offshore oil and gas developments despite evolving global energy dynamics. Deepwater resources remain an essential component of long-term energy supply strategies, supporting continued demand for specialized subsea equipment and services.
Growing Demand for Deepwater Energy Infrastructure
The offshore energy sector is witnessing renewed momentum as operators pursue projects capable of delivering large production volumes with competitive economics. Deepwater developments, particularly those located in regions such as Angola, Brazil and the Gulf of Mexico, continue to attract substantial capital investment.
TechnipFMC’s latest contract win demonstrates how specialized engineering expertise and innovative product offerings remain essential for supporting complex offshore developments. By combining proven technology with extensive project execution experience, the company continues to strengthen its leadership position within the global subsea market.
Conclusion
The Greater PAJ contract award marks a significant milestone for the company and Angola’s offshore energy sector. The project involves supplying flexible flowlines and risers to connect deepwater wells in nearly 2,000 meters of water to a new floating production unit, further strengthening TechnipFMC’s position as a leading provider of advanced subsea solutions.
FTI's Zacks Rank & Key Picks
Currently, FTI has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Delek US Holdings DK, Phillips 66 PSX and Murphy USA MUSA, sporting a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Delek US is valued at $2.54 billion. It is a U.S.-based downstream energy company that focuses on refining crude oil and distributing petroleum products. Headquartered in Brentwood, TN, Delek US Holdings operates through two main segments: refining and logistics.
Phillips 66 is valued at $66.61 billion. It is a diversified energy company that refines crude oil, markets petroleum products, and operates midstream, chemicals, and renewable fuels businesses. Phillips 66 operates across the United States and internationally.
Murphy USA is valued at $10.18 billion. The company is one of the largest independent gasoline and convenience store retailers in the United States, operating a network of stores primarily located near Walmart locations. Murphy USA focuses on offering low-cost fuel and everyday convenience products, supported by a strong loyalty program and disciplined capital-allocation strategy.
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