BP has awarded a major subsea contract to TechnipFMC for work on its Tiber oil development in the US Gulf of Mexico, marking the UK supermajor’s second project in the region to deploy advanced 20,000 psi (20k) subsea technology.
While the exact value was not disclosed, TechnipFMC confirmed the contract falls in the range of $600 million to $800 million, underscoring the scale and strategic importance of the development.
The scope covers integrated engineering, procurement, construction and installation (iEPCI) services and will build on the execution model and technologies developed for BP’s Kaskida project, the company’s first 20k subsea development in the US Gulf. TechnipFMC secured the Kaskida iEPCI contract in 2024, laying the groundwork for repeatable delivery of high-pressure deepwater projects.
“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,” said Jonathan Landes, President of Subsea at TechnipFMC.
BP sanctioned Kaskida in 2024, followed by approval of Tiber-Guadalupe in 2025. Together, the two greenfield developments are expected to add around 160,000 barrels per day of crude oil capacity by 2030, strengthening BP’s deepwater portfolio in the Gulf of Mexico. Kaskida is scheduled to achieve first oil in 2029, while Tiber-Guadalupe is expected to come onstream a year later.
Earlier, BP also awarded a subsea boosting system contract for the Tiber project to SLB OneSubsea, the joint venture formed by SLB, Aker Solutions and Subsea7, further advancing the project’s execution timeline.
The Tiber award reinforces BP’s commitment to high-pressure, high-temperature deepwater developments, while highlighting TechnipFMC’s growing role as a key delivery partner for complex subsea projects in the US Gulf.