TechnipFMC (NYSE: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by OMV (Norge) AS for its Berling gas development project. It will be OMV’s first iEPCI™ project in Norway as operator.
TechnipFMC will design and install the subsea production systems, controls, pipelines, and umbilicals for the development on the Norwegian Continental Shelf.
The award follows a six-month integrated Front End Engineering and Design (iFEED™) study, which optimized the field layout and improved the project’s economics by confirming the suitability of thermally insulated pipe-in-pipe technology for the flowline used in this tieback.
Key data points: The growth forecast = 6.6% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities and forecasts in smart oilfield market to 2031 by component (hardware, software, and services), technology (internet of things, artificial intelligence & machine learning, cloud computing, data analytics, and automation & remote monitoring), application (upstream activities, midstream activities, and downstream activities), end use (independent oil & gas operators, national oil companies, international oil companies, service companies, government & regulatory bodies, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesJonathan Landes, President, Subsea at TechnipFMC, commented: “We’re proud to have OMV join the growing number of clients who are experiencing the benefits of our integrated project execution model. Through iFEED™, we demonstrated that iEPCI™ provides a solution which will accelerate delivery of this development. We are excited to support OMV through its first project as operator in the North Sea.”
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million. This award will be included in inbound orders in the second quarter of 2023.
