Equinor has signed a letter of intent (LOI) for front-end engineering design (FEED) works to be performed by KBR. The agreement is related to the developer’s Bay du Nord floating production, storage, and offlading (FPSO) unit to be installed offshore Canada.
KBR had already executed pre-FEED works for Bay du Nord in 2022. This LOI allows Equinor to possibly extend KBR’s work scope up to completion of the vessel.
Bay du Nord is estimated to hold 300 million barrels of recoverable oil from the Bay de Verde, Bay de Verde East and Baccalieu discoveries. The FPSO should achieve first oil by the end of the decade.
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