Oil and gas exploration and production company Lundin Norway has awarded oilfield services provider TechnipFMC a substantial integrated engineering, procurement, construction and installation (iEPCI) contract.
The contract consists of iEPCI orders for the Luno II and Rolvsnes developments, located in the North Sea, at a water depth of 110m. The Luno oilfield has estimated reserves of between 40 and 100 million barrels of oil equivalent (Mboe), while the Rolvsnes field has estimated reserves of 3-16Mboe.
The iEPCI contract covers the delivery and installation of subsea equipment, including rigid flowlines, flexible jumpers, umbilicals and subsea production systems. The contract is worth between $250m and $500m, according to TechnipFMC.
TechnipFMC president Arnaud Piéton said: “This award demonstrates our leadership position in iEPCI for complete subsea developments. Our strong value proposition builds on early involvement and integrated solutions. By simplifying subsea field architecture, we help our clients improve their project economics.
“We are honoured that Lundin Norway is embracing our innovative and comprehensive solutions, engaging with us early through iFEED (integrated FEED) studies and realising the full scope through an integrated EPCI, finding within TechnipFMC all the architects, the competencies, the equipment and services necessary to support this project.”
Lundin Norway recently signed an agreement to acquire Lime Petroleum’s Utsira High acreage position on the Norwegian continental shelf, consolidating Lundin’s presence in the North Sea.
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This agreement includes the Rolvsnes discovery as well as the Goddo field. The combined gross resource potential of the Rolvsnes and Goddo fields is more than 250Mboe, according to Lundin.