TechnipFMC awarded large iEPCI contract from Equinor

TechnipFMC (FTI) has been awarded a large integrated Engineering, Procurement, Construction, and Installation contract by Equinor (EQNR) for the Johan Sverdrup Phase 3 development in the Norwegian North Sea. The Johan Sverdrup field, which originally began production in 2019, is now one of the largest developments in the region. This latest phase will increase production by tying in additional wells to the current infrastructure, which is powered by low-emission resources onshore. Jonathan Landes, President, Subsea at TechnipFMC commented: “It is a privilege to contribute once again to the development of this field, where we delivered subsea production systems for each of the previous phases. We are excited to leverage our iEPCI(TM) integrated execution model to further enhance this world-class offshore asset.” For TechnipFMC, a “large” contract is between $500M and $1B. This award will be included in inbound orders in the first quarter of 2025.