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TechnipFMC (NYSE:FTI) said Tuesday it was awarded a "significant" contract by BP (BP) for the Argos Southwest Extension project in the Gulf of Mexico's Mad Dog field; TechnipFMC considers a "significant" contract as valued in the $75M-$250M range.
The company said it will install pipe and an umbilical, tying back three new wells to the Argos platform in the Gulf.
"This partnership, combined with our robust installation and execution capabilities, enables us to meet BP's schedule to extend the production in the Mad Dog field," TechnipFMC (FTI) said.
The entire Mad Dog area is estimated to hold more than 5B boe; the production capacity of the existing Mad Dog platform is up to 100K gross bbl/day of oil and 60M cf/day of natural gas.