TechnipFMC (NYSE: FTI) has been given full notice to proceed with the previously announced contract for the first all-electric integrated project by the Northern Endurance Partnership (NEP), a joint venture between bp, Equinor, and TotalEnergies. This notice follows NEP’s announcement of financial close and entry into the execution phase of the carbon dioxide (CO2) transportation and storage infrastructure in the United Kingdom’s East Coast Cluster.
The contract covers the supply and installation of an all-electric subsea system, including trees, manifolds, umbilicals, and infield flowlines, which will be delivered using TechnipFMC’s integrated Engineering, Procurement, Construction, and Installation (iEPCI™) execution model. The Company’s all-electric technology enables the extended distances required for the project.
Luana Duffé, Executive Vice President, New Energy at TechnipFMC, commented: “We are excited to see this development move forward, as it is a significant milestone for the United Kingdom and our Company. TechnipFMC will leverage its industry-leading subsea expertise and proprietary technologies to deliver the first all-electric iEPCI™ for carbon transportation and storage.”
(1) For TechnipFMC, the contract is categorized as a “large” award, valued between $500 million and $1 billion. This award was included in inbound orders in the third quarter of 2024.
