TechnipFMC has secured a ‘large’ integrated Engineering, Procurement, Construction, and Installation (iEPCI) contract by oil and gas company Energean for its Katlan development in the Mediterranean Sea.
This is Energean’s first project to use TechnipFMC’s configure-to-order Subsea 2.0 production systems.
The exact value of the contract was not disclosed, but for TechnipFMC large contract means its value is between $500 million and $1 billion.
The award follows an integrated Front End Engineering and Design (iFEED) study by TechnipFMC, which optimized the commercial and technological solution for the field. The contract covers the design, manufacture, and installation of the production systems, pipe, umbilicals, and subsea structures.
The subsea infrastructure will tie back to the Energean Power floating production, storage, and offloading vessel (FPSO), which currently serves the Karish and Karish North developments.
TechnipFMC also delivered fully integrated subsea solutions utilizing its iEPCI execution model for both of these developments.
“Combining iFEED to optimize field layout with our Subsea 2.0 platform and integrated project execution model accelerates the time to first production at Katlan. This is another iEPCI with Energean, demonstrating the collaborative relationship of our two companies which enables TechnipFMC to continue to deliver improved project economics,” said Jonathan Landes, President, Subsea at TechnipFMC.
In February 2024, Energean achieved first gas at Karish North field. The start of gas export from the Karish North enabled the utilization of the FPSO’s maximum gas capacity, which stands at 8 bcm/yr, Energean said at the time.