TechnipFMC wins ‘large’ iEPCI contract for Aker BP’s oil & gas project
Norway’s oil and gas company Aker BP has awarded TechnipFMC with an integrated engineering, procurement, construction, and installation (iEPCI) contract for the Utsira High development.
The contract brings together three projects in the North Sea that will tie back to the Ivar Aasen and Edvard Grieg production platforms.
Under what is said to be Aker BP’s first iEPCI project, TechnipFMC will engineer, procure, construct, and install the subsea production systems, controls, pipelines, and umbilicals for the development.
The announcement follows a two-year integrated front-end engineering and design (iFEED) study to optimize field layout.
“Aker BP is joining the growing list of clients who are choosing the benefits of our integrated model, which include an acceleration in time to first production,” said Jonathan Landes, President, Subsea at TechnipFMC.
“Our familiarity with the Utsira High area and the success of our installed base there were key components in receiving this direct award. We have valued our dialogue with Aker BP during this process and we are excited about collaborating with them on Utsira High.”
TechnipFMC said that the contract is “large”, meaning it is valued at between $500 million and $1 billion.
Total investments for the Utsira High project are estimated at NOK 21 billion (over $2.1 billion). The project’s recoverable resources are estimated at 124 mmboe and the production is planned to kick off in 2026/2027.
Equinor, Sval Energi, OMV and Wintershall Dea are Aker BP’s partners in this license.
In a separate statement, TechnipFMC announced that it had appointed Robert G. Gwin, former President of Anadarko Petroleum Corporation, to its Board of Directors, effective 1 February, and that Peter Mellbye will retire from the Board and will not stand for re-election at the company’s next annual general meeting.