Seatrium Limited has announced the signing of a Memorandum of Understanding (MOU) with BP Exploration & Production Inc. (bp) for the engineering, procurement, construction, and commissioning (EPCC) of the Tiber Floating Production Unit (FPU), according to the company's release.
This agreement follows the companies' ongoing collaboration on the Kaskida FPU project, which reached a final investment decision in 2024.
The Tiber FPU will be designed to support the development of bp's deepwater assets in the US Gulf of Mexico, specifically the Tiber discovery located approximately 300 miles southwest of New Orleans in the Keathley Canyon area.
The MOU outlines Seatrium's role in delivering a state-of-the-art FPU equipped with advanced technologies for enhanced operational efficiency and safety in deepwater production.
The agreement builds on the experience gained from the Kaskida project, located about 250 miles southwest of New Orleans, also in the Keathley Canyon area. The Tiber project will leverage lessons learned and technological advancements from Kaskida, including Seatrium's topsides single lift integration methodology, to optimize project execution. The Tiber contract award is contingent upon bp's final investment decision, which is anticipated later in 2025.