TechnipFMC has secured a contract for the subsea production system for Equinor’s Verdande project on the Norwegian continental shelf. The company dubbed the deal “major,” meaning the bill is between $75 million and $250 million.
The contract, awarded under TechnipFMC’s framework agreement with Equinor, covers the complete subsea production system, including subsea trees and structures, control systems, connections, tooling and installation support.
“This latest contract highlights the close relationship we have with Equinor under the framework agreement. We are delighted that Equinor has once again placed their trust in our technology,” commented Jonathan Landes, TechnipFMC’s Subsea President.
Verdande, which includes the Cape Vulture and Northeast Alve discoveries, is located in the Norwegian Sea in a water depth of 1148-1246 feet, about 186 miles southwest of the city of Bodø , in northern Norway.
The discoveries were tested in 2017 and 2020 respectively and contain a total of 36.3 million barrels of recoverable oil equivalent. Subsea development secures significant volumes of oil to the production vessel Norne. Verdande will become operational in the fourth quarter of 2025.
Verdande will be operated and maintained as an integrated part of Norne. This includes activities at the supply base in Sandnessjøen, the helicopter base in Brønnøysund and the use of local companies in engineering and manufacturing services in northern Norway.
The Verdande development is based on technology known from similar satellite developments in the Norne field. The development solution consists of an underwater jig tied to the Norne vessel via a new tube. The oil will be lifted by a tanker and the gas will be driven via Åsgard Transport to Kårstø.
Owners of the Verdande license are Equinor Energy as operator (59.3%), Petoro (22.4%), Vår Energi (10.5%), Aker BP (7.0%), PGNIG Upstream Norway ( 0.8%).
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