TechnipFMC secures iEPCI contract from bp for the Tiber development in the Gulf of Mexico. The contract value is estimated to be between $600m and $800m. This project follows bp’s Kaskida project, which is expected to produce 80,000 barrels of crude oil per day from six wells starting in 2029.

In addition to the Tiber project, bp sanctioned the $5bn Tiber-Guadalupe project, with an estimated 350mboe in recoverable resources. TechnipFMC also received a contract from Eni for the Coral North project offshore Mozambique valued at $250m to $500m. The company previously won a contract from Petrobras for subsea production systems.

TechnipFMC continues to expand its portfolio with major contracts in the energy sector. The company’s president, Jonathan Landes, emphasized the importance of collaboration and technical innovation in executing projects like the Tiber development. The focus remains on delivering integrated projects efficiently and advancing technology in greenfield developments.

Read more at Yahoo Finance: TechnipFMC secures iEPCI contract from bp for Tiber project