TechnipFMC has secured an integrated engineering, procurement, construction, and installation (iEPCI) contract by BP for a greenfield development in the Gulf of America (the U.S. Gulf of Mexico).
The contract for the 20,000 psi (20K) Tiber project has been defined as large, which TechnipFMC says is worth between $600 million and $800 million.
This direct award is said to leverage the engineering and equipment in progress for BP’s first 20K Paleogene project, Kaskida, awarded to TechnipFMC in 2024 .
Jonathan Landes , President, Subsea for TechnipFMC, said: “Building on the Kaskida iEPCI execution model and technologies, we are realizing the potential of repeatable and systematic delivery of integrated projects within an existing basin. This differentiated approach to technology-enabled greenfield development relies just as much on collaboration as it does technical innovation. We are excited to advance both through this project.”
BP in September 2025 announced the final investment decision (FID) for the estimated $5 billion Tiber-Guadalupe project, which will feature a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day.
The project includes six wells in the Tiber field and a two-well tie-back from the Guadalupe field. With the production anticipated to start in 2030, the fields are estimated to contain recoverable resources of approximately 350 million barrels of oil equivalent from the initial phase.