TechnipFMC plc FTI and Cairn Oil & Gas have entered into a strategic alliance to fast-track deepwater projects in India. The collaboration will tap TechnipFMC’s expertise and cutting-edge technologies, ensuring efficiency and innovation in project delivery.
Details of the Partnership
The companies entered the deal at the CERAWeek S&P Global energy conference in Houston, TX, aiming to boost India's offshore energy potential. The agreement includes the use of TechnipFMC’s integrated Front-End Engineering and Design (iFEED™) model, where early engagement will optimize project performance utilizing its Subsea Production Systems (SPS) and Subsea Umbilicals, Risers and Flowlines (SURF) work scopes. The partnership will also utilize FTI’s integrated Engineering, Procurement, Construction and Installation (iEPCI™) model to deliver the project efficiently.
Accelerating India's Deepwater Goals
Cairn Oil and Gas, India's largest private oil and gas exploration and production company and part of Vedanta Group, currently contributes about 25% of India’s domestic crude oil production and aims to nearly double this output through responsible and sustainable practices.
With over 4,500 sq. km. of offshore deepwater blocks in the Krishna Godavari Basin and water depths ranging from 500 to 2,500 meters, Cairn is poised to unlock new reserves. The region holds significant potential, with four gas discoveries and estimated resources of 5 trillion cubic feet awaiting exploration.
TechnipFMC’s expertise in iEPCI™ and iFEED™ models will play a crucial role in achieving Cairn’s deepwater expansion goals and the use of SPS and SURF systems will drive efficiency in execution.
Strengthening India’s Energy Security
As India’s deepwater sector gains momentum, the collaboration between TechnipFMC and Cairn lays the foundation for an early engagement that can be deployed to deliver Cairn’s deepwater development vision and FTI’s expertise is a perfect match to achieve the desired results.
FTI’s Zacks Rank and Key Picks
London-based TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. Currently, FTI has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some top-ranked stocks like Delek Logistics Partners, LP DKL, Archrock, Inc. AROC and Canadian Natural Resources Limited CNQ.While Delek Logistics and Archrock currently sport a Zacks Rank #1 (Strong Buy) each, Canadian Natural carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Delek Logistics Partners owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The Zacks Consensus Estimate for DKL’s 2025 earnings indicates 34.45% year-over-year growth.
Houston-based Archrock is a provider of natural gas contract compression services as well as a supplier of aftermarket services for compression equipment. The Zacks Consensus Estimate for AROC’s 2025 earnings indicates 46.67% year-over-year growth.
Calgary-based Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ’s 2025 earnings indicates 5.53% year-over-year growth.
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