Neptune in subsea projects alliance with TechnipFMC
Oil and gas company Neptune Energy has entered into a global alliance agreement with TechnipFMC for delivering subsea projects.
The alliance agreement between Neptune and TechnipFMC has been signed for an initial five-year term with options for further extensions, Neptune said on Tuesday.
The agreement covers the full project lifecycle from early concept work, through engineering, procurement, delivery of subsea production systems and installation of subsea equipment and infrastructure, and continues into life of field support.
The first developments to be executed under this contract model are the Duva and Gjøa P1 projects in the Norwegian sector of the North Sea. Both fields will be developed as fast-track subsea tiebacks to the Neptune-operated Gjøa facilities.
Neptune submitted development plans to Norwegian authorities for the Duva and Gjøa P1 projects in late February. First production from the projects is expected in late 2020/early 2021.
TechnipFMC has been awarded a contract covering the subsea equipment from the wellheads to the riser hang-off at Gjøa. This includes subsea templates, xmas trees, manifolds, production and gas lift pipelines, umbilicals, subsea structures and control systems) plus installation activities.
The engineering and fabrication works have started and the first template will be installed 3Q 2019 on the Duva field. The majority of the installation scope will be in 2020 with first oil targeted for 4Q 2020.
Mark Richardson, Vice-President Projects in Neptune Energy said: “The global Alliance Agreement establishes a long-term relationship, based on common goals, shared values and mutual trust, supported by a commercial model where collective positive performance is rewarded.”
In a separate statement on Wednesday TechnipFMC said that the value of its deal with Neptune is between $250 million and $500 million.
Arnaud Piéton, President Subsea at TechnipFMC, commented: “These new iEPCI awards by Neptune Energy are the first call offs from our recently signed Subsea Alliance Agreement which is based on early engagement and more collaboration and transparency between Operator and Contractor.:
He also said: “We are currently executing the Fenja(2) iEPCITM project with Neptune Energy and are honored that Neptune Energy continues embracing our innovative and comprehensive solutions.”
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