TechnipFMC has secured an integrated engineering, procurement, construction and installation (iEPCI) contract from bp for the Tiber development in the Gulf of Mexico.
The financial details of the Tiber contract have not been disclosed, but it is estimated to be between $600m and $800m.
The contract was recorded in TechnipFMC’s inbound orders for the fourth quarter of 2025 (Q4 2025).
It builds on ongoing engineering and equipment work for bp’s initial 20,000 pounds per square inch Kaskida project in the Paleogene, which was awarded to TechnipFMC in 2024.
BP made a final investment decision on the Kaskida project in 2024.
The Kaskida project is wholly owned by bp and is expected to yield 80,000 barrels of crude oil per day from six wells during its initial phase, with production commencing in 2029.
The field’s recoverable resources are estimated at around 275 million barrels of oil equivalent (mboe) during its inaugural phase.
TechnipFMC Subsea president Jonathan Landes said: “Building on the Kaskida iEPCI execution model and technologies, we are realising the potential of repeatable and systematic delivery of integrated projects within an existing basin.
“This differentiated approach to technology-enabled greenfield development relies just as much on collaboration as it does technical innovation. We are excited to advance both through this project.”
In September 2025, bp sanctioned the $5bn (£3.7bn) Tiber-Guadalupe project, which comprises the Tiber and Guadalupe fields.
The two fields are projected to contain approximately 350mboe in recoverable resources during the initial phase. Further evaluation could lead to additional drilling in future phases.
In other developments, TechnipFMC received a contract from Eni last month for the Coral North project offshore Mozambique.
Valued at between $250m (€213.42m) and $500m, this contract was recorded in the company’s Q2 orders for 2025.
In September last year, TechnipFMC won a contract for subsea production systems from Petrobras following a competitive bidding process.
“TechnipFMC secures iEPCI contract from bp for Tiber project” was originally created and published by Offshore Technology, a GlobalData owned brand.
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