TechnipFMC (NYSE: FTI) has been awarded a subsea installation contract by Chevron Australia, for the Gorgon Stage Two development, located offshore Western Australia in water depths ranging from 250 m (820 ft) to 1,340 m (4,396 ft), the company said on July 26.
The contract covers the project management and engineering, transportation, installation and pre-commissioning of umbilicals and flying leads as well as manifolds. The award also includes fabrication, transportation, installation and testing of rigid spools.
TechnipFMC will leverage local capabilities as well as its global state-of-the-art pipelay fleet for the offshore campaign.
“We value our long-term, collaborative relationship and are committed to bring the best assets and our solid experience in project execution, fabrication and installation to the field,” Hallvard Hasselknippe, president of TechnipFMC’s Subsea business, said.
The Gorgon project is operated by Chevron Australia and is a joint venture of the Australian subsidiaries of Chevron (NYSE: CVX) (46.3%), ExxonMobil (NYSE: XOM) (25%), Shell (NYSE: RDS.A) (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and JERA (0.417%). The Phase 2 development aims to upgrade the project’s existing subsea facilities to ensure production is maintained for future gas supply.
ABB’s board of directors and Ulrich Spiesshofer have mutually agreed for him to step down from his role as CEO, which he has held since 2013, the company said on April 17.
The total capital investment of the Project is over $150 million, and there will be up to 250 people employed at the site during the height of construction activity.
Top oilfield services provider Schlumberger reported a drop in quarterly profit, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.