What's Happening?
TechnipFMC has been awarded a significant iEPCI contract by bp for the Tiber development in the Gulf of America. This contract, valued between $600 million and $800 million, extends TechnipFMC's involvement in high-pressure subsea projects in the region. The Tiber field is part of bp's strategy to develop high-pressure reservoirs in the Gulf pre-salt, following the Kaskida project. The contract includes engineering and equipment already in progress, with completion planning and installation schedules aligned with ongoing procurement in Trinidad.
Why It's Important?
The contract highlights the continued interest and investment in ultra-deepwater high-pressure reservoirs in the Gulf of America. For TechnipFMC, this award strengthens its position as a leader in subsea
engineering and project management. The project is expected to drive technological innovation and collaboration, essential for managing costs and logistics in challenging environments. The development of the Tiber field could enhance bp's production capabilities and contribute to meeting global energy demands.
