TechnipFMC has signed a Letter of Intent with Equinor Energy do Brazil Ltda., a subsidiary of Equinor ASA (Equinor), for an integrated Front End Engineering and Design (iFEED™) study on its BM-C-33 project offshore Brazil.

The study will finalize the technical solution for the proposed gas and condensate greenfield development in the pre-salt Campos Basin before Equinor makes its final investment decision (FID).

The FEED study includes an option to proceed with a direct award to TechnipFMC for the integrated Engineering, Procurement, Construction and Installation (iEPCI™) phase of the project.

The major(1) iEPCI™ contract would cover the entire subsea system, including Subsea 2.0™ tree systems, manifolds, jumpers, rigid risers and flowlines, umbilicals, pipeline end terminations, and subsea distribution and topside control equipment. TechnipFMC would also be responsible for life-of-field services.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are excited about this iFEED™ award, which demonstrates our collaborative relationship with Equinor and their continued confidence in our technologies and integrated approach. This integrated project will be the first time Equinor uses our Subsea 2.0™ configure-to-order production systems, of which we’re seeing increased customer adoption.”

(1)For TechnipFMC, a “major” contract is over $1.0 billion. Order inbound for the iEPCI™ phase of the project remains subject to FID and contract approval.

About TechnipFMC

TechnipFMC (NYSE: FTI) 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.

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.