TechnipFMC wins engineering contract with Woodside in Australia

21 April 2020 (Last Updated April 21st, 2020 12:30)

Oil services firm TechnipFMC has secured an integrated engineering, procurement, construction and installation (iEPCI) contract for the development of Woodside’s offshore fields in Northwestern Australia.

TechnipFMC wins engineering contract with Woodside in Australia
TechnipFMC will design, manufacture, deliver and install subsea equipment for Woodside under the contract. Credit: Copyright TechnipFMC.

Oil services firm TechnipFMC has secured an integrated engineering, procurement, construction and installation (iEPCI) contract with Woodside. It will develop of the company’s fields off the coast of Northwestern Australia.

Woodside has awarded the contract for the development of the Lambert Deep field and Phase 3 of the Greater Western Flank fields.

Under the contract, TechnipFMC will be responsible for the design, manufacture, delivery and installation of subsea equipment, including a subsea production system (SPS).

It will also provide flexible flowlines and umbilicals for connection to the Angel platform, located about 120km northwest of Karratha.

TechnipFMC said the contract was “significant”, meaning it is worth between $75m and $250m. This is the second contract awarded to TechnipFMC under a five-year integrated iEPCI frame agreement with Woodside.

The Angel platform is connected to the North Rankin Complex (NRC) through a 50km subsea pipeline.

TechnipFMC Subsea president Arnaud Pieton said: “We are delighted to have been awarded another iEPCI project through our frame agreement with Woodside.

“This is Woodside’s second consecutive award adopting our Subsea 2.0 platform, confirming our common ambition to transform subsea economics through integration, standardisation and configurability.”

Earlier this month, TechnipFMC said it will cut its planned capital expenditures (capex) by 30% to $300m for 2020 in response to an unprecedented slump in oil prices and the global economy due to the coronavirus pandemic.

Last month, TechnipFMC deferred its plans to split business operations into two separate entities. It has said the current market environment led to its decision to put separation on hold.