TechnipFMC Awarded a Substantial Integrated EPCI (iEPCI™) Contract for the Neptune Energy Duva and Gjøa P1 Projects
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Apr 2, 2019--TechnipFMC (Paris:FTI) (NYSE:FTI) has been awarded a substantial (1) integrated Engineering, Procurement, Construction and Installation (iEPCI TM ) contract from Neptune Energy for the Duva and Gjøa P1 projects, located in the Norwegian sector of the North Sea at a water depth of 375 meters.
The contract covers the delivery and installation of subsea equipment including umbilicals, rigid flowlines and subsea production system.
Arnaud Piéton, President Subsea at TechnipFMC, commented: “These new iEPCITMawards by Neptune Energy are the first call offs from our recently signed Subsea Alliance Agreement which is based on early engagement and more collaboration and transparency between Operator and Contractor. These awards confirm our leadership position in complete subsea developments, through early engagement with iFEEDTM(integrated FEED) studies and realizing the full scope through an integrated EPCI. We are currently executing the Fenja(2)iEPCITMproject with Neptune Energy and are honored that Neptune Energy continues embracing our innovative and comprehensive solutions.”
For TechnipFMC, a “substantial” contract ranges between $250 million and $500 million.
(2) Neptune Energy closed the acquisition of VNG Norge on June 28, 2018
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TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
To learn more about us and how we are enhancing the performance of the world’s energy industry, go to TechnipFMC.com and follow us on Twitter @TechnipFMC.
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PUB: 04/02/2019 04:30 PM/DISC: 04/02/2019 04:30 PM