TechnipFMC and BP Partner on High-Pressure Subsea Systems

TechnipFMC and BP Exploration & Production signed a memorandum of understanding on October 20 to cooperate on high-pressure subsea production systems. The agreement focuses on BP's Paleogene oil developments in the U.S. Gulf of Mexico, establishing a framework for the potential supply of subsea tree systems rated for 20,000 pounds per square inch (20K).

TechnipFMC aims to standardize equipment to improve project delivery and scheduling predictability. The cooperation supports BP's Paleogene projects, including Kaskida and Tiber-Guadalupe, which are part of a planned $10 billion investment to unlock approximately 10 billion barrels of discovered resources. BP targets a production capacity of over 400,000 barrels of oil equivalent per day across its U.S. Gulf operations by 2030.

While the memorandum creates a framework for cooperation, it is not a firm supply contract. Doug Pferdehirt, Chair and CEO of TechnipFMC, stated that combining proven technologies with systematic project delivery can help improve predictability and performance across future developments.