TechnipFMC has secured a significant Engineering, Procurement, Construction, and Installation (EPCI) contract from energy company Eni. This agreement targets the Coral North liquefied natural gas (LNG) project, located offshore Mozambique. Sources describe the contract’s value as “substantial.”
Contract Scope and Value
TechnipFMC will provide comprehensive Engineering, Procurement, Construction, and Installation (EPCI) services. This broad scope encompasses all key aspects of the project’s development. The company will manage these crucial phases for the offshore undertaking.
The contract’s classification as “substantial” indicates its considerable financial importance. This designation typically signifies a contract value between $250 million and $500 million. The agreement represents a major commitment from both parties.
The Coral North LNG Project
The Coral North LNG project represents a major energy initiative. This development sits strategically offshore Mozambique. This region is increasingly vital in the global gas market, attracting significant investment.
Eni’s Development Role
Eni, a prominent energy company, acts as the developer for this ambitious undertaking. The company drives the project’s overall execution. Eni awarded the contract to TechnipFMC, entrusting them with the core development work.
Market and Industry Impact
Awarding this substantial contract underscores confidence in TechnipFMC’s capabilities. It further highlights Mozambique’s growing importance as an LNG producer. This deal strengthens TechnipFMC’s position in the offshore energy sector.
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