TechnipFMC (NYSE: FTI) has been awarded a large(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor 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™ integrated execution model to further enhance this world-class offshore asset.”

This direct award follows an integrated Front End Engineering and Design (iFEED®) study. TechnipFMC will design, manufacture, and install subsea production systems, umbilicals, and rigid pipe that will tie new templates into the existing Johan Sverdrup field center.

(1) For TechnipFMC, a “large” contract is between $500 million and $1 billion. This award will be included in inbound orders in the first quarter of 2025.

About TechnipFMC

TechnipFMC 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.

Each of our approximately 21,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

About Equinor

Equinor is an international energy company committed to long-term value creation in a low-carbon future.
Our purpose is to turn natural resources into energy for people and progress for society. Equinor’s portfolio of projects encompasses oil and gas, renewables and low-carbon solutions, with an ambition of becoming a net-zero energy company by 2050. Headquartered in Stavanger (Norway), Equinor is the leading operator on the Norwegian continental shelf. We are present in around 30 countries worldwide.