Seatrium Limited has signed a Memorandum of Understanding (MOU) with BP Exploration & Production Inc. (bp) for the Tiber Floating Production Unit (FPU) project in the Gulf of Mexico. This agreement marks their second collaboration in the region, following the Kaskida FPU project.
The Tiber FPU will involve Seatrium providing engineering, procurement, construction, and commissioning (EPCC) services. The unit is designed to enhance operational efficiency and safety, meeting the rigorous demands of deepwater production. Located approximately 300 miles southwest of New Orleans in the Keathley Canyon area, the Tiber discovery is strategically positioned to support bp’s deepwater assets.
Both companies will jointly define the initial works and EPCC scope under the MOU. However, the contract award for the Tiber project is contingent upon bp’s final investment decision, expected later in 2025. This collaboration builds on the successful partnership between Seatrium and bp on the Kaskida FPU, which reached its final investment decision in 2024.
The Tiber project aims to leverage technological advancements and lessons learned from the ongoing Kaskida project. It will utilise Seatrium’s proven topsides single lift integration methodology, ensuring operational excellence and efficiency. This initiative underscores Seatrium’s commitment to advancing deepwater production capabilities and strengthening its partnership with bp.
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