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EPC giant, TechnipFMC has sued Houston-based McDermott International and its newly appointed CEO, Samik Mukherjee for trade secret theft. TechnipFMC has alleged that Mukherjee downloaded thousands of sensitive and confidential documents right before he left his job at TechnipFMC to accept an offer at McDermott. The court has passed a temporary restraining order necessitating McDermott and Mukherjee to return any TechnipFMC documents and their use.
McDermott International has bagged a subsea pipeline flowline installation contract from PEMEX Exploration & Production. The contract is on a lump sum basis. McDermott will perform the design and detailed engineering, procurement, construction and installation (EPCI) for two subsea pipelines in support of Ayatsil field, offshore Mexico. Installation of the pipelines is slated for completion in the first phase 2019.
UK-based Subsea 7 has secured a multi-million dollar contract from Canadian oil and gas firm, Nexen. The contract is part of Buzzard Phase 2 project, off Scotland’s northeast coast. The scope of the contract covers project management and EPCI of a 5km Pipeline Bundle and other activities related to the provision of a heavy lift vessel. The offshore operations will commence in 2020.
UK-based design firm, TechnipFMC released its second-quarter earnings, reporting a 23.6% drop in revenues. The firm’s profit fell from $165 million to $106 million, mostly because the company’s projects have been winding down while others are gearing up. CEO, TechnipFMC believes that despite the low profits in Q2, the future remains bright as the offshore energy sector is recovering from the recent oil bust.
Lukoil subsidiary, Lukoil NizhegorodNefteorgSyntez has awarded $527 million worth of two EPC contracts for Kstovo Refinery in Russia. The contract is secured by Italian firm, Maire Tecnimont subsidiary, KT-Kinetics Technology. The scope of the contract covers EPC activities for the deployment of a diesel fuel hydrotreater unit, a hydrogen production unit, and some other units.
Technology provider, McDermott has secured an EPC contract for Chicago Bridge and Iron (CB&I) storage tanks in Saudi Arabia. The contract was awarded by Samsung Engineering, for the Jubail United Petrochemical Company (JUPC) Ethylene Oxide (EO)/Ethylene Glycol (EG) Plant No. 3 at Jubail, Kingdom of Saudi Arabia. Under the fixed lump sum type contract, McDermott will carry out EPC of 23 CB&I storage tanks and will modify two existing tanks.
A joint venture between Petrofac and Turkish Standard Institutions (TSE) bagged a multi-million dollar Project Management Consultancy (PMC) contract, for a period of three years. The contract pertains to support the BOTAS North Marmara Underground Gas Storage Expansion Project in Turkey. The scope of the contract includes detailed design, engineering, procurement, construction, drilling and decommissioning, along with commissioning and start-up activities.
Italian engineering firm, Maire Tecnimont has been granted numerous new contracts and additional works of existing contract by the clients located in Europe, Middle East, South East Asia and America, which has a total worth of $730m. The new acquisitions include an EPC contract by Abu Dhabi Polymer Company for a new polypropylene unit, with a production capacity of 480,000 tpa. The project is expected to complete by 2021.
TechnipFMC has bagged an EPC contract for Total’s Zinia Phase 2 field development, located offshore Angola. The scope of the contract includes the Engineering, Procurement and Construction (EPC) of subsea equipment comprising 9 subsea tree units as well as wellheads, subsea control systems, connection systems and associated equipment. Total’s contract will also require support services, performed by TechnipFMC in Angola, for the assembly, test, mobilization and installation.
TechnipFMC has bagged one of the largest subsea production systems contract by CNOOC for the Liuhua oilfield project in the South China Sea. The contract ranges from the engineering, procurement, and construction of subsea equipment, including 26 units of Enhanced Horizontal Christmas trees (EHXT) as well as wellheads, subsea control systems, manifolds, tie-in systems and intervention workover control systems (IWOCS). It also covers support services for the installation and commissioning.
Petrofac has signed a contract worth $580mn with a GCC National Oil Company for a major engineering, procurement, and construction (EPC) project. This recent contract further adds to the credibility of Petrofac which already has a concrete track record of project execution in the GCC. At present, particular details regarding the project remain confidential.