Snapshot: The Latin America subsea prospects on TechnipFMC’s radar

Energy technologies and systems provider TechnipFMC has identified 10 subsea business opportunities in the next 24 months in Latin America and the Caribbean.

The prospects are led by the Brazil and Guyana-Suriname basins followed by Mexico and Trinidad and Tobago, and involve an estimated total of between US$4 billion and US$10bn, company information shows.

Another regional market highlighted by chief executive Doug Pferdehirt during TechnipFMC’s second quarter results call was Colombia.

In Q2, the group secured a large (US$500mn-US$1bn) contract with ExxonMobil Guyana to supply subsea production systems for the Stabroek block’s sixth phase known as Whiptail, and a substantial (US$250-500mn) contract with Brazil’s Petrobras to supply flexible pipe for offshore pre-salt fields.

Pferdehirt said that with Whiptail, TechnipFMC’s participation now spans all Stabroek’s sanctioned developments, as well as involvement in the country’s gas to energy project.

For the executive, the Guyana success is due to the company’s early engagement with local talent and the supply chain, a formula TechnipFMC plans to replicate in Suriname.

He pointed out that 80% of its workforce in Guyana are locals, who also make up nearly half of management.

Subsea prospects identified by TechnipFMC in Latin America and the Caribbean

BRAZIL

Petrobras

Atapu 2 (US$500mn-US$1bn)

Buzios 10 (US$500mn-US$1bn)

Buzios 11 (US$500mn-US$1bn)

Sepia 2 (US$500mn-US$1bn)

Sergipe Deep Water (US$1bn+)

Shell

Gato Do Mato (US$500mn-US$1bn)

GUYANA

ExxonMobil

Hammerhead (US$500mn-US$1bn)

MEXICO

Repsol

Block 29 (US$500mn-US$1bn)

SURINAME

TotalEnergies

Block 58 (US$1bn+)

TRINIDAD & TOBAGO

Woodside

Calypso (US$500mn-US$1bn)