The global subsea umbilicals, risers and flowline market is forecast to be worth more than £5 billion by 2021.
Offshore & subsea
Under the agreement, Shell will reduce its stake in the discovery from 80% to 50% and continue as operator, while Total will retain the remaining 20%.
The first cargo of oil from the field is expected to leave for customers in Asia this week, and contain 1 million bbl with a market value of approximately US$60 million.
More Offshore & subsea news
TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals for the development of the Pyxis and Xena fields, located offshore North West Australia.
The company recently received two prizes at the Energy Industries Council (EIC) national awards and was awarded the ‘Inspiration from Innovation’ gong at the Northern Star Business Awards.
The INSITE Programme between offshore industries and researchers is designed to give marine scientists access to valuable industry-acquired ecological data.
The FPSO will be designed to produce 220 000 bpd of oil, will have associated gas treatment capacity of 400 million ft3/d and water injection capacity of 250 000 bpd.
The well in the UK Southern Gas Basin was targeting 220 billion ft3 of P50 gross resource, in an undrilled area 4 km east of the 500 billion ft3 Tolmount gas field.