Neptune and TechnipFMC agree five-year deal for Duva and Gjoa

Neptune Energy and TechnipFMC have agreed a multi-million five-year deal for the Duva and Gjoa projects in the Norwegian section of the North Sea.

The deal takes the form of a wider global alliance agreement, which covers full project lifecycle.

The Duva and Gjoa P1 projects will be the first development to be “executed”, Neptune confirmed.

Reports from Norwegian news outlet Sysla suggest the deal is estimated at more than £250 million.

Neptune Energy has estimated 120 million barrels of resources can be recovered from its Duva and Gjoa P1 projects in the Norwegian North Sea.

The majority of the installation scope will be in 2020 with first oil targeted for Q4 2020.

Mark Richardson, vice-president of projects at Neptune Energy, said “The global Alliance Agreement establishes a long-term relationship, based on common goals, shared values and mutual trust, supported by a commercial model where collective positive performance is rewarded.”

Neptune also confirmed TechnipFMC has been awarded the contract covering the subsea equipment from the wellheads to the riser hang-off at Gjoa.

The deal includes subsea templates, xmas trees, manifolds, production and gas lift pipelines, umbilicals, subsea structures and control systems) plus installation activities.

Engineering and fabrication works are already underway and the first template will be installed by Q3 2019 on the Duva field.

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