Oil field service provider TechnipFMC plc FTI recently received an Engineering, Procurement, Construction and Installation (“EPCI”) contract from exploration and production company, Hurricane Energy plc HRCXF for the Lancaster Early Production System Project.TechnipFMC's ResponsibilityPer the company, the contract comprises the provision of subsea equipment that incorporates umbilicals, risers, flowlines, and the subsea production system for the project. The company will install subsea equipment, turret buoy, and mooring system for Hurricane Energy. TechnipFMC plans to implement the contract as an integrated EPCI (iEPCI) project.Lancaster Project UpdateProcurement and fabrication of the main subsea components of the project have already started under TechnipFMC. The main subsea installation activities will be done in the summer of 2018 before the Aoka Mizu floating, production, storage, and offloading (“FPSO”) vessel arrives at the site. The project includes 523 million barrels of 2P Reserves and 2C Resources. Why TechnipFMC?Per TechnipFMC, it will provide Hurricane Energy simplified subsea field architecture, which can improve project economics, expected to be operational by the first half of 2019. This has put the company in an advanced position in the industry.In the last four months, TechnipFMC has won three more contracts. In August 2017, the company received an EPCI contract for an Eastern Canadian project named West White Rose from Canadian integrated energy company, Husky Energy.In mid-June, Norway-based integrated oil and gas company Statoil ASA STO provided a contract extension to TechnipFMC that builds on an existing engineering, procurement and construction deal for improved oil recovery operations at the Visund Nord field in the Norwegian North Sea.At the beginning of June 2017, TechnipFMC won an EPCI commissioning and start-up contract for Coral FLNG project offshore Mozambique.About the CompanyLondon-based TechnipFMC is a leading manufacturer and supplier of technology solutions for the energy industry. The company was formed following the January 2017 merger between Technip and FMC Technologies. It is engaged in designing, producing and servicing technologically sophisticated systems and products for subsea, onshore and offshore projects.TechnipFMC's dominant market share, technology leadership and efficient execution skills are its key pockets of strength. However, following the massive fall in rig count, activity levels in North America deteriorated more than expected. The company has already warned that 2017 could turn out to be another difficult year with order growth likely to remain weak.Price PerformanceTechnipFMC has lost 24.9% of its value year to date compared with the 28.9% fall of its industry.Zacks Rank and Stock to ConsiderThe company currently has a Zacks Rank #3 (Hold).A better-ranked stock in the oil and energy sector is Lonestar Resources US Inc. LONE. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Lonestar Resources’ sales for 2017 are expected to surge 60.2% year over year. The company delivered a positive earnings surprise of 62.5% in the second quarter of 2017.Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FMC Technologies, Inc. (FTI): Free Stock Analysis Report Statoil ASA (STO): Free Stock Analysis Report Lonestar Resources US Inc. (LONE): Free Stock Analysis Report Hurricane Energy PLC (HRCXF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research