Core Insights - Seatrium has secured a contract from BP for the engineering, procurement, construction, and onshore commissioning of the Tiber floating production unit (FPU) in the Gulf of Mexico, marking a continuation of their partnership following a previous memorandum of understanding [1] - The Tiber FPU is designed to have a production capacity of 80,000 barrels of crude oil per day and will utilize advanced technologies to enhance operational efficiency and safety [2] - Seatrium's strategy involves replicating over 85% of the Tiber FPU design from the Kaskida FPU, aiming to improve supply chain management and project execution efficiency [4][5] Company Strategy - The award of the Tiber FPU signifies a significant milestone in Seatrium's relationship with BP, showcasing the effectiveness of their series-build approach for Gulf of America production units [3] - Seatrium plans to employ its single-lift integration method using Goliath twin cranes, which have a combined lifting capacity of 30,000 tonnes, to enhance project readiness and operational reliability [5][6] - The replication strategy will involve collaboration with key engineering and commissioning partners, as well as equipment suppliers, to ensure consistency and efficiency in project execution [5] Project Details - The Tiber FPU will process oil from the Tiber and Guadalupe fields located approximately 300 miles (482 km) southwest of New Orleans, in water depths of around 4,100 feet [2] - This project follows the ongoing construction of other FPUs for Shell and BP, including the Kaskida FPU and the recently completed Vito and Whale FPUs [7]