Singapore shipyard group Seatrium has signed a memorandum of understanding with energy giant BP for a second floating production unit project in the US Gulf of Mexico.
Under the agreement, Seatrium would carry out the engineering, procurement, construction, and commissioning of an FPU for the Tiber project, located some 480 km southwest of New Orleans in the Keathley Canyon area of the Gulf of Mexico. BP discovered Tiber in 2009 in an area with a resource capacity estimated to be 9bn barrels of oil and gas across five discoveries
BP and Seatrium will jointly define the initial works and EPCC scope under the MoU. The Tiber contract award is subject to the final investment decision by BP, anticipated later in 2025.
The two companies are currently working on the Kaskida FPU, which reached a final investment decision in 2024. The Kaskida field is located in the same region, some 80 km from the Tiber project.
Work on the Tiber project will leverage lessons learned and technological advancements achieved from Kaskida. The Tiber FPU project, like Kaskida, would leverage Seatrium’s topside single-lift integration methodology.
