TechnipFMC Wins PowerNap Project

Subsea Hardware for Gulf of Mexico

Engineering services firm TechnipFMC has secured a "significant" contract for the development of the PowerNap project, in offshore Gulf of Mexico.
The deal, awarded by energy firm Shell, will cover integrated engineering, procurement, construction and installation of subsea hardware and infrastructure. The project is expected to drive substantial breakbulk activity to the site during the construction phase over the next two years.
“We are very pleased to have been awarded this iEPCI contract for the Shell PowerNap project. We look forward to executing the scope of work and to further expanding our 25-year successful relationship with Shell and our deepwater portfolio in the Gulf of Mexico,” said Arnaud Pieton, President Subsea at TechnipFMC.

Installation in 2021
Scope of work will involve design, manufacture and installation of subsea tree systems, subsea distribution controls, topside controls, flying leads and connectors for three wells, as well as the supply of 20 miles of production umbilical and flowlines.
“The project is expected to complete installation in late 2021 and produce up to 35,000 barrels per day of oil equivalent at peak rates,” a spokesperson for TechnipFMC said.
The subsea tie-back project will connect to the Olympus production hub and is located in Mississippi Canyon, Block MC943 of the Gulf of Mexico. Sources at TechnipFMC did not disclose the final deal value, but stated it was a “significant” contract, valued at up US$250 million.

Subsea Momentum
The group recently announced strong momentum in its subsea division with first-half orders for the year already having exceeded levels achieved in all of 2018, with inbound of US$2.6 billion.
“We achieved record inbound orders in the quarter, with total company orders reaching US$11.2 billion [and] total company backlog increased more than 75 percent since year-end to US$25.8 billion,” said Doug Pferdehirt, CEO of TechnipFMC, commenting on second quarter results.

Formed from the merger of Technip and FMC Technologies, TechnipFMC is one of the largest oilfield services companies in the world. Headquartered in London, the group employs 44,000 staff in 48 countries focusing on offshore oil and gas exploration and extraction platforms, rigs, crude oil refinery and petrochemical plant projects.
Photo: TechnipFMC subsea system. Credit: TechnipFMC