December 7, 2023


Moving Forward

TechnipFMC banks $1 billion Equinor award at oilfield following final investment decision

Subsea specialist TechnipFMC has received the integrated engineering, procurement, design and set up (iEPCI) subsea, umbilical, risers and flowlines agreement worthy of up to $1 billion for Equinor’s controversial Rosebank undertaking, in the UK’s West of Shetland arena.

As Norway’s Equinor introduced the ultimate investment conclusion for the politically divisive $3.8 billion greenfield improvement on Wednesday, TechnipFMC confirmed its deal addresses the SURF manufacture and installation, as nicely as connection to the host facility.

The task will use pre-certified products, which will speed up the shipping and delivery plan, the contractor noted.

Umbilicals, rigid pipe and most of the subsea manufacturing units will be intended, engineered and created in-nation using TechnipFMC’s facilities and network of reliable local suppliers, then installed by TechnipFMC.

The oil and gas industry, which lies in a h2o depth of 1100 metres, will be exploited through subsea wells tied again to a floating production, storage and offloading vessel to be supplied by Altera Infrastructure.

Output get started-up from Rosebank is scheduled for late 2026 or 2027. Equinor operates the asset with an 80% fascination on behalf of sole companion Ithaca Power.

Posting continues under the advert

“We have collaborated with Equinor on Rosebank since the strategy stage in 2019. Working with a one interface, we tied alongside one another all the workscopes, leveraging our iEPCI product to cut down project complexity,” Jonathan Landes, president, subsea at TechnipFMC claimed.

“We are very pleased that our track history and confirmed engineering have attained Equinor’s assurance that we will supply this sizeable job.”

TechnipFMC has fully commited about $500 million of the complete award to regional worth creation.

FPSO contractor

Meanwhile, the Rosebank FPSO supplier Altera Infrastructure has confirmed its bareboat constitution agreement is successful when also securing a separate FPSO functions and servicing contract with Equinor.

The bareboat charter and operations and servicing are company nine-year agreements, with selections up to a full of 25 several years.

Altera will give its present Petrojarl Knarr FPSO in a partnership with Aker Methods and Drydocks Planet-Dubai.

The floater is effectively suited for redeployment in severe waters, and is a rather new and modern day asset. It was constructed to allow for electrification, which would reduce operational carbon dioxide emissions.

The vessel is at this time undergoing existence extension operate and modifications which include generating it electrification all set at Drydocks Globe in Dubai.

Altera chief govt Ingvild Saether explained on Wednesday: “Altera’s eyesight is to lead the market to a sustainable long run – and this will be an vital collaboration with Equinor on what is to be the most complex FPSO redeployment in the world.”

“Today marks one more significant milestone with the last financial commitment choice remaining taken for the advancement undertaking and we stand prepared to deliver a optimistic option for the up coming a long time on the Rosebank discipline.”