TechnipFMC Secures Major iEPCI™ Contract for Johan Sverdrup Phase 3 Development
Newcastle, UK and Houston, TX – TechnipFMC (NYSE: FTI), a leading engineering and technology company, has announced that it has been awarded a significant integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor for the Johan Sverdrup Phase 3 development in the Norwegian North Sea. This contract builds upon TechnipFMC’s previous work on the Johan Sverdrup project, which began production in 2019.
Johan Sverdrup: One of the Largest Developments in the Norwegian North Sea
The Johan Sverdrup field is currently one of the largest developments in the Norwegian North Sea. Located in the Utsira High area, the field is estimated to hold recoverable resources of approximately 2.7 billion barrels of oil equivalent. The field’s production is powered by a complex infrastructure system, which includes a processing platform, living quarters platform, and various subsea installations.
Johan Sverdrup Phase 3: Increasing Production
With this latest contract, TechnipFMC will be responsible for tying in additional wells to the existing infrastructure. This expansion is expected to increase production capacity and further bolster the economic viability of the Johan Sverdrup field. The iEPCI™ contract covers the engineering, procurement, construction, and installation of subsea templates, pipelines, and umbilicals.
Impact on the Local Economy and Workforce
For the local economy, this contract represents a significant boost. The Johan Sverdrup project is expected to create thousands of jobs both during the construction phase and throughout the operation of the field. TechnipFMC’s involvement in Johan Sverdrup Phase 3 will further contribute to this employment growth.
Global Impact: TechnipFMC’s Expertise and Innovation
Beyond the local economy, this contract showcases TechnipFMC’s expertise in iEPCI™ and its commitment to delivering innovative solutions for complex offshore projects. The company’s ability to integrate engineering, procurement, construction, and installation services under one contract offers numerous benefits, including cost savings, schedule efficiencies, and improved project coordination.
Conclusion
TechnipFMC’s award of the iEPCI™ contract for Johan Sverdrup Phase 3 is a testament to the company’s industry-leading capabilities and its ability to deliver complex offshore projects. This expansion of the Johan Sverdrup field will not only increase production capacity but also contribute to local economic growth and further solidify TechnipFMC’s position as a global leader in engineering and technology services for the oil and gas industry.
- TechnipFMC awarded iEPCI™ contract by Equinor for Johan Sverdrup Phase 3
- Johan Sverdrup is one of the largest developments in the Norwegian North Sea
- Contract covers engineering, procurement, construction, and installation of subsea infrastructure
- Expected to increase production capacity and create local jobs
- Showcases TechnipFMC’s expertise and commitment to innovative solutions
