TechnipFMC Inks $1bn FEED Contract with Equinor for BM-C-33 Project in Brazil

(TechnipFMC, 5.Jul.2022) — TechnipFMC (NYSE: FTI) has signed a Letter of Intent with Equinor Energy do Brazil Ltda., a subsidiary of Equinor ASA, for an integrated Front End Engineering and Design (iFEED™) study on its BM-C-33 project offshore Brazil.

The study will finalize the technical solution for the proposed gas and condensate greenfield development in the pre-salt Campos Basin before Equinor makes its final investment decision (FID).

The FEED study includes an option to proceed with a direct award to TechnipFMC for the integrated Engineering, Procurement, Construction and Installation (iEPCI™) phase of the project.

The major(1) iEPCI™ contract would cover the entire subsea system, including Subsea 2.0™ tree systems, manifolds, jumpers, rigid risers and flowlines, umbilicals, pipeline end terminations, and subsea distribution and topside control equipment. TechnipFMC would also be responsible for life-of-field services.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are excited about this iFEED™ award, which demonstrates our collaborative relationship with Equinor and their continued confidence in our technologies and integrated approach. This integrated project will be the first time Equinor uses our Subsea 2.0™ configure-to-order production systems, of which we’re seeing increased customer adoption.”

____________________

(1) For TechnipFMC, a “major” contract is over $1bn. Order inbound for the iEPCI™ phase of the project remains subject to FID and contract approval.