TechnipFMC wins BP Tiber contract valued at up to $800 million

HOUSTON, January 6, 2026 – TechnipFMC has secured a contract worth USD 600 million-800 million from BP for its Tiber development in the Gulf of Mexico, the French-American EPC player said on Monday.

The integrated EPC deal extends TechnipFMC’s work on BP’s 20K Paleogene programme, following a previous award for the Kaskida project in 2024. The scope includes engineering, procurement, construction and installation services.

Kaskida is BP’s sixth operated hub in the US Gulf of Mexico and its first to use 20K drilling technology. The field is expected to produce 80,000 bopd starting in 2029 and unlock up to 10 billion barrels of discovered resources in the Paleogene area. Tiber, located in the same catchment, is set to follow a similar development path.

“Building on the Kaskida iEPCI™ execution model and technologies, we are realising the potential of repeatable and systematic delivery of integrated projects within an existing basin,” TechnipFMC president of subsea Jonathan Landes said.

TechnipFMC is a global energy services company providing subsea, surface and onshore/offshore solutions. It is known for pioneering integrated project delivery models such as iEPCI, which streamline offshore developments by combining subsea engineering, equipment manufacturing and installation in a single contract. In the Gulf of Mexico, the company supports deepwater developments for major operators including BP.

Photo courtesy of Exmar Offshore

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