BP has awarded TechnipFMC a major contract for work at its Mad Dog Phase 2 project in the Gulf of Mexico.
TechnipFMC (NYSE: FTI) said the “significant” award – valued at between $75 million and $250 million – would see it tackle a series of subsea scopes at BP’s (LON: BP) Argos Southwest Extension project.
TechnipFMC will install pipe and an umbilical, tying back three new wells to the Argos platform.
Under the contract, TechnipFMC will also manufacture and install pipeline end terminations.
TechnipFMC presdent of subsea, Jonathan Landes, commented: “We have a long-standing relationship with bp, underpinned by close collaboration.
This partnership, combined with our robust installation and execution capabilities, enables us to meet BP’s schedule to extend the production in the Mad Dog field.”
Argos, the oil giant’s fifth platform in the Gulf of Mexico, came online last spring. With gross production capacity of up to 140,000 barrels of oil per day, it was set to increase BP’s gross operated production capacity in the Gulf of Mexico by an estimated 20%.
The platform forms the cornerstone of the Mad Dog Phase 2 project, which extends the life of the super-giant oil field discovered in 1998 – and is one of nine, global high-margin major projects the group plans start up by the end of 2025.
BP is the operator of the facility with 60.5% working interest – Woodside Energy (23.9%) and Union Oil Company of California, an affiliate of Chevron (15.6%), hold the remaining stakes.
Last year Saipem also scooped work at the project, with its Saipem Constellation vessel set to carry out “marine activities” across the area, managed by Saipem’s execution centre in Houston.
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