TechnipFMC wins integrated EPCI contract from Eni off Indonesia

|About: Eni S.p.A. (E)|By:, SA News Editor

TechnipFMC (NYSE:FTI+2% pre-market after saying it was awarded a large contract by Eni (NYSE:E) for work on the deepwater Merakes project offshore Indonesia; FTI defines a "large" contract at $500M-$1B.

The contract covers five deepwater wells and their tie back to the existing Jangkrik Floating Production Unit in Indonesia; project scope includes engineering, procurement, installation and pre-commissioning of subsea equipment.

The fast-tracked field development could be onstream by 2020 at a targeted production of 150M cf/day of natural gas.

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