TechnipFMC Awarded Large iEPCI™ Contract
London, July 19 2024, (Oilandgaspress) ––TechnipFMC (NYSE: FTI) (the “Company”) has been awarded a large(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Energean for its Katlan development in the Mediterranean Sea.
This is Energean’s first project to use TechnipFMC’s configure-to-order Subsea 2.0® production systems.
The award follows an integrated Front End Engineering and Design (iFEED®) study by TechnipFMC, which optimized the commercial and technological solution for the field. The contract covers the design, manufacture, and installation of the production systems, pipe, umbilicals, and subsea structures.
The subsea infrastructure will tie back to the Energean Power floating production, storage, and offloading vessel (FPSO), which currently serves the Karish and Karish North developments. TechnipFMC also delivered fully integrated subsea solutions utilizing our iEPCI™ execution model for both of these developments.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “Combining iFEED® to optimize field layout with our Subsea 2.0® platform and integrated project execution model accelerates the time to first production at Katlan. This is another iEPCI™ with Energean, demonstrating the collaborative relationship of our two companies which enables TechnipFMC to continue to deliver improved project economics.”
(1) For TechnipFMC, a “large” contract is between $500 million and $1 billion. This award was included in second quarter Subsea inbound orders.
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