TechnipFMC Awarded Substantial iEPCI™ Contract for Sparta Project
TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE: SHEL) for the first integrated Engineering, Procurement, Construction, and Installation (iEPCI™) project to use high-pressure subsea production systems rated up to 20,000 psi (20K).
- TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE: SHEL) for the first integrated Engineering, Procurement, Construction, and Installation (iEPCI™) project to use high-pressure subsea production systems rated up to 20,000 psi (20K).
- The Company will manufacture and install subsea production systems, umbilicals, risers, and flowlines for Shell’s Sparta development in the Gulf of Mexico.
- Jonathan Landes, President, Subsea at TechnipFMC, commented: “Sparta will combine our leading-edge subsea technology with our proven integrated execution model, iEPCI™, providing improved project economics.
- We are excited to be working with Shell on 20K technology.”
(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 million.