TechnipFMC wins contract for Vaar Energy’s Ofelia and Gjoa Nord discoveries
TechnipFMC has won a contract from Norway operator Vaar Energy for subsea work on the Ofelia and Gjoa Nord developments in the Gjoa area of the Norwegian North Sea, the offshore contractor confirmed on Thursday.
The value of the integrated engineering, procurement, construction and installation (IEPCI) deal for the North Sea project is somewhere between $500 million and $1 billion, TechnipFMC said.
The award is part of a five-year agreement that TechnipFMC signed with Vaar Energy in 2025 for work on future subsea efforts, including Gjoa Nord and Ofelia.
Vaar said Thursday that it had sanctioned the Gjoa Subsea project, which includes the Gjoa Nord and Ofelia discoveries, along with the Cerisa discovery. The discoveries will tie back to the Gjoa and Duva hubs.
Capital costs for the projects have been estimated at Nkr14 billion ($1.42 billion), according to Norway’s Ministry of Energy.
First production is expected from Cerisa in 2027, followed by Ofelia and Gjoa Nord in 2028.
The discoveries hold probable resources of roughly 76 million barrels of oil equivalent, according to Vaar.
Vaar is the operator of the Gjoa Subsea project and holds a 40% interest in Ofelia, a 30% interest in Gjoa Nord and a 30% interest in Cerisa, respectively.
Partners include Pandion, Harbour Energy, Aker BP and DNO Norge AS in Ofelia; Petoro, Harbour and OKEA in Gjoa Nord; and Inpex, Orlen and DNO Norge AS in Cerisa.
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