Shortly after securing an integrated engineering, procurement, construction, and installation (iEPCI) contract with Equinor in Norway, TechnipFMC has landed another major deal—this time with Shell in Brazil—valued at over $1 billion.
The iEPCI contract has been awarded for Shell’s Gato do Mato greenfield development offshore Brazil. In addition to integrated execution, the project will incorporate Subsea 2.0 configure-to-order (CTO) subsea production systems.
According to TechnipFMC, integrating these solutions will streamline project management through a single interface and accelerate the timeline to first oil.
The company classified this as a “major” contract, meaning its value exceeds $1 billion.
This announcement follows TechnipFMC’s recent iEPCI contract win with Norwegian energy giant Equinor for the third phase of what is considered the third-largest oil field on the Norwegian Continental Shelf (NCS).
Jonathan Landes, President of Subsea at TechnipFMC, commented:
“Throughout our 30-year partnership with Shell, we have built an overwhelmingly strong record of delivery. Our success in integrating and industrializing innovative solutions gives us the utmost confidence in providing the schedule certainty Shell requires for this flagship project offshore Brazil.”
Located in the Santos Basin off the coast of Rio de Janeiro, the Gato do Mato field is a pre-salt gas-condensate discovery in water depths ranging from 1,750 to 2,050 meters. It spans two contiguous blocks: BM-S-54, a concession contract signed in 2005, and Sul de Gato do Mato, a production sharing contract (PSC) awarded in 2017.
The project is backed by a consortium consisting of Shell (operator, 50%), Ecopetrol (30%), and TotalEnergies (20%), with Pré-Sal Petróleo SA (PPSA) managing the production sharing contract.
The final investment decision (FID) for the deepwater development was made approximately a week ago. The project includes the deployment of a floating production storage and offloading (FPSO) unit, designed to produce up to 120,000 barrels of oil per day, with operations expected to commence in 2029.