05:05 PM EDT, 03/24/2025 (MT Newswires) -- TechnipFMC ( FTI ) said Monday it was awarded an engineering, procurement, construction, and installation contract from Equinor ( EQNR ) for the Johan Sverdrup Phase 3 development in the Norwegian North Sea.

The contract, worth between $500 million and $1 billion, covers the design, manufacturing, and installation of subsea production systems, umbilicals, and rigid pipes linking new templates to the existing field center.

The direct award follows an integrated Front End Engineering and Design study and will be included in inbound orders for Q1, the company said.