Seatrium, BP ink MoU for Tiber FPU project in Gulf of Mexico

The contract award will be finalised later this year.

Seatrium signed a memorandum of understanding (MoU) with BP Exploration & Production Inc. (BP) to build the Tiber Floating Production Unit (FPU) in the US Gulf of Mexico.

Under the MoU, Seatrium will carry out the engineering, procurement, construction, and commissioning (EPCC) of an FPU designed to support the development of BP’s deepwater assets in the US Gulf of Mexico.

The Tiber FPU will be equipped with advanced technologies to enhance operational efficiency and safety.

BP and Seatrium will jointly define the initial works and EPCC scope under the MoU. The Tiber contract award is subject to the final investment decision by BP, anticipated later in 2025.

The MoU also builds on Seatrium and BP’s partnership on the Kaskida FPU, finalised in 2024. The Kaskida project is a greenfield development located about 250 miles southwest of New Orleans in the Keathley Canyon area of the Gulf of Mexico.

The Tiber discovery is a deepwater offshore oil field located approximately 300 miles southwest of New Orleans in the Keathley Canyon area of the Gulf of Mexico.

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