FTI - TechnipFMC wins contract up to $250M for work offshore Norway

2023-06-29 16:44:49 ET

TechnipFMC ( NYSE: FTI ) said Thursday it was awarded a "significant" contract for integrated engineering, procurement, construction and installation services from OMV ( OTCPK:OMVJF ) for its Berling gas development project off the Norwegian coast; the company defines a "significant" contract in the $75M-$250M range.

TechnipFMC ( FTI ) said it will design and install subsea production systems, controls, pipelines, and umbilicals for the development.

The company said the award follows a six-month integrated front-end engineering and design study, which confirmed the suitability of thermally insulated pipe-in-pipe technology for the flowline used in the tieback.

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