BusinessWire contributed to this article
TechnipFMC has been awarded a significant subsea contract by Equinor on March 20 for the Johan Sverdrup Phase 2 development, located in the Norwegian sector of the North Sea at a water depth of 120 m (393 ft).
The contract covers the delivery and installation of the subsea production system including integrated template structures, manifolds, tie-in and controls equipment.
The production system consists of five templates and a total of 18 X-mas trees with associated components.
“This joint engagement is leading to further value creation for both of us and for Equinor’s Johan Sverdrup Phase 2 Development. It reaches beyond the supply of subsea equipment, now encompassing its installation. We are very proud of this joint engagement and very pleased to work alongside Equinor for the Johan Sverdrup Phase 2 development,” Arnaud Piéton, president of subsea at TechnipFMC, said.
For TechnipFMC, a significant contract ranges between $75 million and $250 million.
Recommended Reading
Brett: Oil M&A Outlook is Strong, Even With Bifurcation in Valuations
2024-04-18 - Valuations across major basins are experiencing a very divergent bifurcation as value rushes back toward high-quality undeveloped properties.
Marketed: BKV Chelsea 214 Well Package in Marcellus Shale
2024-04-18 - BKV Chelsea has retained EnergyNet for the sale of a 214 non-operated well package in Bradford, Lycoming, Sullivan, Susquehanna, Tioga and Wyoming counties, Pennsylvania.
Triangle Energy, JV Set to Drill in North Perth Basin
2024-04-18 - The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
PGS, TGS Merger Clears Norwegian Authorities, UK Still Reviewing
2024-04-17 - Energy data companies PGS and TGS said their merger has received approval by Norwegian authorities and remains under review by the U.K. Competition Market Authority.
Energy Systems Group, PacificWest Solutions to Merge
2024-04-17 - Energy Systems Group and PacificWest Solutions are expanding their infrastructure and energy services offerings with the merger of the two companies.