FMC Technologies Awarded $75 Million Contract to Support Ekofisk Field

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Feb 22, 2011, 04:00 ET

HOUSTON, Feb. 22, 2011 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that its subsidiary, FMC Kongsberg Subsea AS, has signed an agreement with ConocoPhillips Scandinavia AS for the manufacture and supply of subsea equipment and services for a water injection development in the Ekofisk field. The award has a base value of approximately $75 million and is subject to Norwegian Parliament approval of the Plan for Development and Operation (PDO).

FMC's scope of supply includes eight subsea water injection trees and wellheads, two manifolds and control systems, with options for an umbilical and additional controls. The equipment will be engineered and manufactured at FMC's facilities in Kongsberg, Norway and Dunfermline, Scotland. Deliveries are scheduled to commence in the first quarter of 2012.

FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World's Most Admired Oil and Gas Equipment, Service Company in 2010, the Company has approximately 11,200 employees and operates 25 production facilities in 15 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. For more information visit www.fmctechnologies.com.

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. These risks and uncertainties are described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and may be modified in subsequent quarterly reports filed by the Company with the Securities and Exchange Commission that may be accessed on the Company's website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.

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SOURCE FMC Technologies, Inc.