TechnipFMC has been awarded a contract by Esso Exploration and Production Guyana Ltd. to supply the latter with a subsea production system for the Uaru project, according to a May 2 press release. (Source: Shutterstock.com)
TechnipFMC has been awarded a contract by Esso Exploration and Production Guyana Ltd. to supply the latter with a subsea production system for the Uaru project, according to a May 2 press release.
While the exact amount of the contract was not disclosed, TechnipFMC defined the total as being between $500 million and $1 billion. Esso Exploration and Production Guyana are an Exxon Mobil Corp. affiliate.
In addition to supplying Esso Exploration and Production Guyana with the subsea production system, TechnipFMC will also provide project management, engineering and manufacturing of the system. Included in the awarded contract are 44 subsea trees, associated tooling, and 12 manifolds, associated controls and tie-in equipment.
“We are very proud to continue our relationship with Exxon Mobil Guyana through this award, which is our fifth within the Stabroek block,” said Jonathan Landes, president of subsea at TechnipFMC. “This is Exxon Mobil Guyana’s first project utilizing our Subsea 2.0 system, which leverages our configure-to-order model to deliver on an accelerated schedule.”
TechnipFMC is a technology company based in England. The company employs over 100 Guyanese, but that number is expected to increase as of the awarded contract.
Recommended Reading
Midstream M&A Adjusts After E&Ps’ Rampant Permian Consolidation
2024-10-18 - Scott Brown, CEO of the Midland Basin’s Canes Midstream, said he believes the Permian Basin still has plenty of runway for growth and development.
Post Oak-backed Quantent Closes Haynesville Deal in North Louisiana
2024-09-09 - Quantent Energy Partners’ initial Haynesville Shale acquisition comes as Post Oak Energy Capital closes an equity commitment for the E&P.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
Aethon, Murphy Refinance Debt as Fed Slashes Interest Rates
2024-09-20 - The E&Ps expect to issue new notes toward redeeming a combined $1.6 billion of existing debt, while the debt-pricing guide—the Fed funds rate—was cut on Sept. 18 from 5.5% to 5%.
Dividends Declared Sept.16 through Sept. 26
2024-09-27 - Here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.