TechnipFMC Inks Multi-Million Deal with Woodside Down Under
Subsea firm TechnipFMC has announced a multi-million deal with Woodside at its Pyxis and Xena fields, located offshore North West Australia.
The London-headquartered firm has been awarded an integrated engineering, procurement, construction and installation (EPCI) contract worth between £60 to £200 million.
TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals.
This contract is the first announced under a five-year EPCI frame agreement between TechnipFMC and Woodside.
The firm said it allows the development of projects for Woodside through “early engagement” and “utilization of TechnipFMC integrated execution solutions.”
Arnaud Pieton, President of Subsea at TechnipFMC, said: “We are very pleased to have signed a five-year Frame Agreement with Woodside that leads to this first contract under this agreement.
“This EPCI contract combines our integrated subsea solution with our Subsea 2.0 products and illustrates TechnipFMC’s complete offering.
“We value our long-term, collaborative relationship with Woodside and are committed to bring the best in the execution of this project.”
Woodside announced yesterday that it will move ahead with its Scarborough plan in Australia, despite the final investment decision on its Browse project pushed back to 2021.
In August, TechnipFMC’s board unanimously voted on to separate the group into a technology and service company, RemainCo, and an engineering and construction firm, SpinCo.
TechnipFMC employs more than 37,000 people globally. RemainCo will account for 22,000 of these workers, while SpinCo will have 15,000. The restructuring is expected to complete during the first half of 2020.