TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI) contract by Shell for the PowerNap project, located in the Gulf of Mexico.
TechnipFMC will design, manufacture and install subsea hardware, including subsea tree systems, subsea distribution controls, topside controls, flying leads and connectors for three wells, in addition to the supply of 20 miles of production umbilical and flowlines.
Arnaud Pieton, President Subsea at TechnipFMC, commented: 'We are very pleased to have been awarded this iEPCITM contract for the Shell PowerNap project. We look forward to executing the scope of work and to further expanding our 25-year successful relationship with Shell and our deep water portfolio in the Gulf of Mexico.'
PowerNap is a subsea tie-back project to the Olympus production hub and is located in Mississippi Canyon, Block MC943 in the Gulf of Mexico. The project is expected to complete installation in late 2021 and produce up to 35,000 barrels per day of oil equivalent at peak rates.
1. For TechnipFMC, a 'significant' contract is between $75 million and $250 million
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TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients' project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
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Email: Matt Seinsheimer