Seatrium, BP Exploration & Production Sign MoU for Second Deepwater Floating Production Project; Shares Up 7%

MT Newswires

2025/02/13

Seatrium (SGX:5E2) signed an MoU with BP Exploration & Production to prepare for a second project at the US Gulf of America, Tiber Floating Production Unit (FPU), acoridng to a filing with the Singapore Exchange on Thursday.

Under the MoU, Seatrium will provide engineering, procurement, construction and commissioning services for the Tiber FPU.

The Tiber discovery is located around 300 miles southwest of New Orleans in the Keathley Canyon area of the Gulf of America.

Seatrium shares were up over 7% in recent trading.

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