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TechnipFMC Awarded a Significant Subsea Contract for Ithaca Energy’s Captain EOR Project

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18 May 2021

TechnipFMC (NYSE: FTI) (PARIS:FTI) today announced that it has been awarded a significant(1) Engineering, Procurement, Construction and Installation (EPCI) contract from Ithaca Energy (UK) Limited for the Captain Enhanced Oil Recovery (EOR) Project in the UK North Sea.

TechnipFMC will design, manufacture, deliver and install subsea equipment including a rigid riser caisson, water injection flexible flowline, umbilicals and associated equipment.

Jonathan Landes, President Subsea at TechnipFMC, stated: "We are delighted to support Ithaca Energy on this important EOR expansion of the Captain field, utilizing our innovative design and installation technologies and solutions to unlock and maximize the recovery of hydrocarbons from the UK Continental Shelf. We look forward to helping Ithaca improve project economics, enhance performance and reduce emissions.”

The Captain field lies approximately 145 kilometers (90 miles) northeast of Aberdeen, Scotland, in the Outer Moray Firth area of the UK North Sea, in water depths of around 105.5 meters (346 feet).

(1) For TechnipFMC, a "significant” contract ranges between $75 million and $250 million.