TechnipFMC Awarded Significant Contract In India
TechnipFMC Awarded Significant Contract In India
TechnipFMC on Monday described the contract as “significant,” which in the company’s parlance translates into a value ranging from $75 million to $250 million.
TechnipFMC on Monday described the contract as “significant,” which in the company’s parlance translates into a value ranging from $75 million to $250 million.
Reliance Industries Limited has awarded TechnipFMC subsea contracts for its deepwater MJ1 field offshore India in the Krishna Godavari basin.
According to a written statement from TechnipFMC, the contracts call for fabricating and installing flexible risers, rigid and flexible flowlines and umbilicals in the Reliance-operated MJ1 field. TechnipFMC added the high-pressure high-temperature gas field is located in water depths ranging from 1,000 to 1,200 meters and will be connected to a new floating production storage and offloading (FPSO) facility.
“We are very honored to be associated with this prestigious natural gas project leading to further value creation... These awards confirm the trust we have built over the long term with Reliance along the oil and gas value chain, reflecting both our commitment to the Indian market and our leadership in the energy transition domain, through subsea gas projects.” - Arnaud Pieton, president of TechnipFMC’s Subsea unit
On June 11 of this year, Reliance and partner BP reported that they had sanctioned the MJ field development. MJ and two other projects in Block KG D6 offshore the east coast of India should develop roughly 3 trillion cubic feet of discovered gas resources with a total investment of approximately US$5 billion, Reliance and BP stated at the time. The companies noted they plan to ramp up production from the three projects from 2020 to 2022, ultimately bringing onstream approximately 1 billion cubic feet per day of new domestic gas output.
In their June 11 announcement, Reliance and BP also stated that MJ should begin production in mid-2022.