TechnipFMC has secured a large integrated engineering, procurement, construction, and installation (iEPCI®) contract from Vår Energi for the Ofelia and Gjøa Nord projects in the Gjøa area of the North Sea.

The contract was awarded directly under a five-year collaboration agreement signed in 2025. The agreement enables the companies to deliver subsea projects using TechnipFMC’s integrated execution model while accelerating development through coordinated portfolio execution.

According to TechnipFMC, Vår Energi is applying a portfolio approach across the Gjøa area to reduce project cycle time and improve project returns. The company said its integrated execution model supports the close collaboration required to deliver multiple projects under this strategy.

Jonathan Landes, President of Subsea at TechnipFMC, said the integrated execution model enables Vår Energi’s portfolio approach and supports the company’s ambition to achieve first oil from the projects within two years.

For TechnipFMC, a “large” contract is valued between $500 million and $1 billion. The company said the majority of the inbound associated with the award will be included in the second quarter of 2026, while a portion was included in prior quarters.