TechnipFMC wins big for third phase of Norway’s third-largest oil field

TechnipFMC has secured an integrated engineering, procurement, construction, and installation (iEPCI) contract with Norwegian state-owned energy giant Equinor for the third phase of what is said to be the third largest oil field on the Norwegian Continental Shelf (NCS).

As part of the contract defined as large, meaning it is worth between $500 million and $1 billion, TechnipFMC will design, manufacture, and install subsea production systems, umbilicals, and rigid pipe for the Johan Sverdrup Phase 3 development.

The direct contract award follows an integrated front-end engineering and design (iFEED) study. It will be included in inbound orders in the first quarter of 2025.

Jonathan Landes, President of Subsea at TechnipFMC said: “It is a privilege to contribute once again to the development of this field, where we delivered subsea production systems for each of the previous phases. We are excited to leverage our iEPCI integrated execution model to further enhance this world-class offshore asset.”

The Johan Sverdrup field was discovered in 2010, with Phase 1 coming on stream in October 2019 and Phase 2 starting production in December 2022.

With estimated resources of 2.7 billion barrels of oil equivalent, the field located on Utsira High in the central part of the North Sea, 160 kilometers west of Stavanger, at a water depth of 110-120 meters, is the third-largest oil field on the NCS. It has an estimated 50-year lifespan.

Partners in the field are Equinor Energy as the operator, holding 42.6267%, Aker BP holding 31.5733%, Petoro 17.36% and TotalEnergies EP Norge 8.44%.