Seatrium bags new BP contract; lifts order book to more than S$2 billion

[SINGAPORE] Marine engineering company Seatrium on Wednesday (Nov 26) announced that it has been awarded a contract from BP Exploration and Production for the engineering, procurement, construction and onshore commissioning of the Tiber Floating Production Unit (FPU) in the Gulf of Mexico – renamed the Gulf of America by US President Donald Trump.

This latest contract win brings the company’s new contracts won for FY2025 to more than S$2 billion.

The Tiber FPU marks Seatrium’s second consecutive deepwater project for BP, following Kaskida FPU in December 2024.

Seatrium Energy International executive vice-president William Gu said that the contract “highlights Seatrium’s expanding foothold in the FPU segment”.

The Tiber FPU will have a production capacity of 80,000 barrels of crude oil per day and incorporate “advanced technologies” to enhance operational efficiency and safety.

Over 85 per cent of the Tiber FPU design will replicate the Kaskida FPU. This will help it capitalise on established design efficiencies, Seatrium said.

The topside for the Tiber FPU will be installed onto the hull using Seatrium’s single-lift integration methodology, enabled by its Goliath twin cranes with a combined lifting capacity of 30,000 tonnes.

The company said this approach allows the topside to be fully completed and tested at ground level.

The Tiber FPU adds to Seatrium’s growing portfolio of FPUs for leading global energy clients. It follows the ongoing Shell Sparta and BP Kaskida FPU newbuilds and the successful completion of Shell’s Vito and Whale FPU newbuilds in 2021 and 2023, respectively.