TechnipFMC wins contract for BP’s Tiber project in US Gulf

TechnipFMC (FTI) announced on January 5 that it had been awarded an integrated engineering, procurement, construction and installation (iEPCI) contract by BP (BP) for the offshore Tiber project in the US Gulf of Mexico.

BP took a final investment decision (FID) on the Tiber-Guadalupe development in the Gulf’s Paleogene trend in September 2025. It will be the second development for the supermajor to produce from reservoirs using technology capable of handling pressures of up to 20,000 pounds per square inch (20K). The first is Kaskida – another Paleogene project that is currently under development and targeted for start-up in 2029. The push into 20K projects in the Gulf is still in its early stages, with the first such project entering production in 2024 and a second starting up last year, as well as a handful more currently under development, including Kaskida and Tiber-Guadalupe.

TechnipFMC is also the EPCI contractor for Kaskida, having been awarded that contract in 2024. Indeed, the company said this week that the Tiber iEPCI contract would leverage the engineering and equipment in progress for Kaskida.

Tiber-Guadalupe is targeted for start-up in 2030, with a peak production capacity of 80,000 barrels per day (bpd). The development includes six wells in the Tiber field and a two-well tieback from the Guadalupe field.

BP said in September that it estimated the development of Tiber-Guadalupe to cost $5bn. The company said it was leveraging existing platform and subsea equipment designs in an effort to drive cost efficiencies across the construction, commissioning and operations of the Tiber-Guadalupe production hub. According to that announcement, Tiber project development costs are anticipated to be around $3 per barrel lower than the Kaskida project, including synergies from using more than 85% of the design from Kaskida.

TechnipFMC described its latest iEPCI contract as large. The company noted this meant the value of the contract was $600-800mn. It also said the award had been included in inbound orders in the fourth quarter of 2025.

“Building on the Kaskida iEPCI execution model and technologies, we are realising the potential of repeatable and systematic delivery of integrated projects within an existing basin,” stated TechnipFMC’s president of subsea, Jonathan Landes. “This differentiated approach to technology-enabled greenfield development relies just as much on collaboration as it does technical innovation.”