TechnipFMC wins engineering contract for BP-operated Angola field

Energy services firm TechnipFMC PLC said Tuesday it has been awarded an integrated engineering, procurement, construction and installation contract from BP Angola for the Platina field development, offshore Angola.

The contract will cover the manufacture, delivery and installation of the subsea equipment including subsea trees, rigid pipelines, umbilicals and flexible jumpers.

TechnipFMC said the contract was a significant one, meaning that the value is between USD75 million and USD250 million.

BP Angola is part of oil major BP PLC, and operates deepwater blocks 18 and 31 offshore Angola, and has interests in blocks 15,17,20 and the liquefied natural gas in Soyo.

"We are very pleased to have been selected by BP for this important deepwater development offshore Angola. We are committed to BP and to supporting the Angolan oil and gas industry. This iEPCI follows iFEED work and will utilize our local assets such as our service base in Luanda and our umbilical factory in Lobito," said Arnuad Pieton, president of Subsea at TechnipFMC.

Shares in TechnipFMC closed 26% lower at USD9.29 on Monday in New York, but was up 0.1% in after hours trading. BP shares closed 19% lower at 318.20p on Monday in London.

Source: lse.co.uk