TechnipFMC (FTI) Wins Subsea Tie-back Contract in Offshore Egypt

TechnipFMC (FTI) Wins Subsea Tie-back Contract in Offshore Egypt
Zacks.com
2/22/2021
TechnipFMC Plc FTI acquired a major integrated Engineering Procurement Construction and Installation (iEPCI) contract from AbuQir Petroleum for a subsea tie-back on the North El Amriya and North Idku (NEA/NI) concession off the Egyptian coast.
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Notably, AbuQir Petroleum is a joint venture between upstream company Energean Plc and Egyptian General Petroleum Corporation, which is engaged in crude oil exploration, refining and storage.
The NEA and NI concessions are fully owned by Energean and are managed by separate joint venture companies. However, they both fall under the overall management of Abu Qir Petroleum. The NEA concession, operated by Petroamriya JV, involves two discovered and assessed gas fields — Yazzi and Python — while the Nipetco JV-operated NI concession includes four discovered gas fields, wherein one gas field is prepared for development.

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