TechnipFMC wins major subsea contract for Guyana’s Whiptail

TechnipFMC has won a contract valued at up to USD 1 billion from ExxonMobil for services for the Whiptail project off Guyana, the energy services player announced on Monday.

The company will provide project management, engineering and manufacturing to deliver 48 subsea trees and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.

ExxonMobil announced an FID on the USD 12.7-billion Whiptail project, located in the prolific Stabroek block, on Friday. The following day, Saipem confirmed a subsea EPCI deal for the project worth up to USD 1.5 billion.

TechnipFMC defined its contract win as “large,” meaning its value is between USD 500 million and 1 billion.

TechnipFMC’s subsea president, Jonathan Landes, noted that the company has delivered more than 100 subsea trees for ExxonMobil Guyana to date.

ExxonMobil holds a 45% operating stake in the Stabroek block. The block’s recoverable resources have been estimated at 11 billion boe, and it has generated more than 30 finds since 2015.

Image of TechnipFMC’s Subsea 2.0 system, which will be deployed for the Whiptail project, courtesy of TechnipFMC.