TechnipFMC (NYSE: FTI) has been awarded a large(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Aker BP (OSE: AKRBP) for its Utsira High development.
The contract brings together three projects that will tie back to the Ivar Aasen and Edvard Grieg production platforms. TechnipFMC will engineer, procure, construct, and install the subsea production systems, controls, pipelines, and umblicals for the development, which is Aker BP’s first iEPCI™ project. It follows a two-year integrated front-end engineering and design (iFEED™) study to optimize field layout.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “Aker BP is joining the growing list of clients who are choosing the benefits of our integrated model, which include an acceleration in time to first production. Our familiarity with the Utsira High area and the success of our installed base there were key components in receiving this direct award. We have valued our dialogue with Aker BP during this process and we are excited about collaborating with them on Utsira High.”
(1) For TechnipFMC, a “large” contract is between $500 million and $1 billion.
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TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
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