February 15, 2024
NEWCASTLE & HOUSTON, February 15, 2024 — TechnipFMC (NYSE: FTI) has been awarded a substantial(1) contract by Shell plc (FTSE: SHEL) (AMS: SHELL) (NYSE: SHEL) for the first integrated Engineering, Procurement, Construction, and Installation (iEPCI™) project to use high-pressure subsea production systems rated up to 20,000 psi (20K).
The Company will manufacture and install subsea production systems, umbilicals, risers, and flowlines for Shell’s Sparta development in the Gulf of Mexico. The tree systems will be Shell’s first to be qualified for 20K applications and are engineered to meet the high-pressure requirements of this greenfield development.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “Sparta will combine our leading-edge subsea technology with our proven integrated execution model, iEPCI™, providing improved project economics. We are excited to be working with Shell on 20K technology.”
