TechnipFMC Secures Equinor Contract Worth Up to $1B

Dow Jones03-24

By Katherine Hamilton

TechnipFMC secured a contract with Equinor for the Johan Sverdrup Phase 3 development in the Norwegian North Sea.

The contract is an integrated engineering, procurement, construction and installation agreement worth $500 million to $1 billion, TechnipFMC said Monday.

TechnipFMC will design, manufacture and install the subsea production systems to tie new templates into the existing infrastructure at the Johan Sverdrup field, which began production in 2019 and is powered by low-emission resources onshore.

The Phase 3 development is expected to increase production at the site. TechnipFMC provided subsea production systems for each of the previous phases at the site, Jonathan Landes, president of subsea, said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 24, 2025 16:41 ET (20:41 GMT)

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