TechnipFMC (NYSE: FTI) has been awarded a large(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor for its Rosebank project, west of the Shetland Isles in the United Kingdom.
The contract covers the manufacture and installation of subsea production systems, flexible and rigid pipe, and umbilicals, as well as connection to the host facility. The project will use pre-qualified equipment, which will accelerate the delivery schedule.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We have collaborated with Equinor on Rosebank since the concept stage in 2019. Using a single interface, we tied together all the work scopes, leveraging our iEPCI™ model to reduce project complexity. We are proud that our track record and proven technology have earned Equinor’s confidence that we will deliver this significant project.”
Umbilicals, rigid pipe, and the majority of the subsea production systems will be designed, engineered and manufactured in-country using TechnipFMC’s facilities and network of trusted local suppliers, then installed by TechnipFMC. Together, these activities will contribute significantly to value and job creation across the United Kingdom, which was an important factor in Equinor’s selection of the Company for this award. TechnipFMC has committed approximately $500 million of the total award to local value creation.
(1) For TechnipFMC, this is considered a “large” contract – between $500 million and $1 billion. This award was included in inbound orders in the first quarter of 2023.
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About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
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