TechnipFMC Bags Multi-Million Dollar Equinor Deals

TechnipFMC Bags Multi-Million Dollar Equinor Deals
Equinor has awarded two contracts, and issued a letter of intent, to TechnipFMC.

Equinor announced Tuesday that it has awarded two contracts, and issued a letter of intent, to TechnipFMC for pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS).

The projects comprise Breidablikk and the Gas Import System for the Snorre Expansion Project, for which contracts have been awarded, and Askeladd Vest, for which a letter of intent has been issued. The Breidablikk contract has subsea installation as an option. The total value of the three assignments, including the option, is about $189 million (NOK 1.8 billion).

The scope of the assignments includes the fabrication and laying of pipelines, installation of subsea structures, control cables and hook-up and testing of systems. The offshore operations under the contracts are planned to be carried out during 2021 and 2023.

Breidablikk’s contract is subject to a final investment decision and a final regulatory approval. The letter of intent for Askeladd Vest is subject to a final investment decision.

“We are pleased to award TechnipFMC new large assignments within pipelaying and subsea installation on the NCS,” Peggy Krantz-Underland, Equinor’s chief procurement officer, said in a company statement posted on Equinor’s website

“Giving three assignments to the same supplier enables efficiency gains and cost savings. It will also allow for a coordinated follow-up of the total delivery during the implementation phase. This creates value for all parties,” the Equinor representative added in the statement.

“In a challenging period for the industry we aim to continue realizing the full potential of our NCS project portfolio,” Krantz-Underland continued.

TechnipFMC describes itself as a global leader in subsea, onshore, offshore and surface technologies. The company, which is currently in the process of separating into two entities – TechnipFMC and Technip Energies - employs more than 37,000 people, according to its website.

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