On January 5, offshore engineering giant TechnipFMC announced via its official website that it has been awarded a large integrated Engineering, Procurement, Construction, and Installation
(iEPCI™) contract by bp for its greenfield Tiber development in the Gulf of America.
This direct award leverages the engineering and equipment in progress for bp’s first 20,000 psi (20K) Paleogene project, Kaskida, which bp awarded to TechnipFMC in 2024.
In accordance with TechnipFMC’s standard practice, the contract value ranges between $600 million and $800 million, and will be booked as new orders in the fourth quarter of 2025.
Jonathan Landes, President, Subsea for TechnipFMC, commented: “Building on the Kaskida iEPCI™ execution model and technologies, we are realizing the potential of repeatable and systematic delivery of integrated projects within an existing basin. This differentiated approach to technology-enabled greenfield development relies just as much on collaboration as it does technical innovation. We are excited to advance both through this project.”