Seatrium awarded second bp deepwater FPU contract for Tiber project

SGX Filings11-26

Seatrium Limited announced on Nov, 26 2025 that it has received a contract from BP Exploration and Production Inc for the engineering, procurement, construction and on-shore commissioning of the Tiber Floating Production Unit (FPU) in the Gulf of America.

The Tiber FPU is designed to produce about 80,000 barrels of crude oil per day from the Tiber and Guadalupe fields in the Keathley Canyon area, roughly 300 miles southwest of New Orleans, in water depths of around 4,100 feet. Production is expected to begin in 2030.

More than 85 percent of the Tiber FPU’s design will replicate the Kaskida FPU, a bp project awarded to Seatrium in Dec, 2024. The replication strategy is intended to streamline procurement, enhance supply-chain efficiency and apply lessons learned from the earlier unit.

Seatrium plans to install the topside onto the hull using its single-lift integration method with Goliath twin cranes that have a combined lifting capacity of 30,000 tonnes, allowing full topside completion and testing at ground level.

The Tiber award expands Seatrium’s portfolio of deepwater floaters, which includes the ongoing Shell Sparta and bp Kaskida FPUs, as well as Shell’s completed Vito (2021) and Whale (2023) projects.

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