TechnipFMC Bags Significant EPCI Deal
TechnipFMC (NYSE, Paris: FTI) has announced that it has been awarded a “significant” integrated Engineering Procurement Construction and Installation (iEPCI) contract.
The contract was awarded by NIpetco and PetroAmriya, two joint ventures between Energean and Egyptian Natural Gas Holding Company (EGAS) and Egyptian General Petroleum Corporation (EGPC), for a subsea tieback located offshore Egypt on the North El Amriya and North Idku concession. TechnipFMC classifies a “significant” contract as having a value of between $75 million and $250 million.
Under the deal, TechnipFMC will design, manufacture, deliver, and install subsea equipment including the subsea production system, subsea trees, production manifolds, umbilicals, flexible pipelines, jumpers and associated subsea and topside controls, TechnipFMC highlighted. This is the second project that the company will execute for Energean using its integrated subsea model, TechnipFMC noted.
“We are proud and honored to be selected for this important development offshore Egypt,” Jonathan Landes, the president of subsea at TechnipFMC, said in a company statement.
“This project award showcases TechnipFMC’s position as the market and technology leader for integrated projects globally and demonstrates the benefits of our iEPCI solution for subsea developments,” he added.
“We will continue our long-term, collaborative relationship with Energean and are pleased to work again with EGPC and EGAS for the development of gas production in Egypt,” Landes went on to say.
Earlier this month, TechnipFMC announced that CTJV, a joint venture between Chiyoda Corporation and Technip Energies, had been awarded a “major” Engineering, Procurement, Construction and Commissioning (EPCC) contract by Qatar Petroleum for the onshore facilities of the North Field East Project. TechnipFMC classifies a “major” contract as having a value of more than $1 billion.
On February 15, TechnipFMC announced the completion of its spin-off transaction to create two independent, publicly traded companies; TechnipFMC and Technip Energies.
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