ConocoPhillips Australia Pty. Ltd. and FMC Technologies Inc. have signed a contract for the supply of subsea equipment for its Bayu-Undan gas and condensate project in the Timor Sea. The contract is valued at $26 million.
Bayu Undan, which has been in production since April 2004, is undergoing a third phase of development. The contractor will supply subsea trees, wellheads, jumper kits and associated control systems.
During the first half of 2013, the Bayu-Undan Phase 3 development will focus on procuring long-lead items and securing contracts for a semisubmersible drilling rig, the company said. A final investment decision is expected in mid-2013 and will be followed by further detailed engineering and procurement activities. Drilling is anticipated to commence in the second quarter of 2014.
"FMC Technologies is pleased to provide ConocoPhillips with the subsea systems required to develop this field," said Tore Halvorsen, FMC Technologies' senior vice president, subsea technologies, in a statement.
The field sends hydrocarbons to the Darwin LNG plant which converts gas from the field into LNG for sale to Tokyo Electric and Tokyo Gas in Japan. In 2012, the company sold 148 billion gross cubic feet of LNG.
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