Sunday, 16 June 2019

Oil & Gas News

Neptune Energy Enters into Global Alliance Agreement with TechnipFMC

The Alliance Agreement between Neptune and TechnipFMC has been signed for an initial five-year term with options for further extensions. The Agreement covers the full project lifecycle from early concept work, through engineering, procurement, delivery of subsea production systems and installation of subsea equipment and infrastructure, and continues into life of field support.

The first developments to be executed under this contract model are the Duva and Gjøa P1 projects in The Norwegian sector of the North Sea. Both fields will be developed as fast-track subsea tiebacks to the Neptune operated Gjøa facilities. TechnipFMC has been awarded a contract covering the subsea equipment from the wellheads to the riser hang-off at Gjøa. This includes subsea templates, xmas trees, manifolds, production and gas lift pipelines, umbilicals, subsea structures and control systems) plus installation activities.

The engineering and fabrication works have commenced and the first template will be installed Q3 2019 on the Duva field. The majority of the installation scope will be in 2020 with first oil targeted for Q4 2020.

Mark Richardson, Vice-President Projects in Neptune Energy said “The global Alliance Agreement establishes a long-term relationship, based on common goals, shared values and mutual trust, supported by a commercial model where collective positive performance is rewarded.”

We aim to keep you updated weekly with relevant information concerning the Offshore Energy Sector.

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