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TechnipFMC procures "large" iEPCI contract from Aker BP

Jan. 31, 2023 4:33 PM ETTechnipFMC plc (FTI) StockAKRBFBy: Ahmed Farhath, SA News Editor14 Comments

Jackup Offshore Oil Rig

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  • TechnipFMC (NYSE:FTI) said Tuesday it has been awarded a large integrated Engineering, Procurement, Construction, and Installation contract by Aker BP for its Utsira High development.
  • The contract brings together three projects that will tie back to the Ivar Aasen and Edvard Grieg production platforms, the company said.
  • TechnipFMC will engineer, procure, construct, and install the subsea production systems, controls, pipelines, and umblicals for the development for Aker BP’s first iEPCI project.
  • The project follows a two-year integrated front-end engineering and design study to optimize field layout.
  • For TechnipFMC, a “large” contract is between $500 million and $1 billion.

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