FMC Technologies Awarded Subsea Contract for BP's Mad Dog Phase 2

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Mar 19, 2013, 08:00 ET

HOUSTON, March 19, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a contract with BP (NYSE: BP) for the manufacture and supply of subsea equipment to support the Mad Dog Phase 2 field development.

The Mad Dog Phase 2 field development is located near Green Canyon Block 825 of the Gulf of Mexico, 150 miles (240 kilometers) south of New Orleans in about 5,100 feet (1,550 meters) of water. Under the initial contract, FMC Technologies will supply subsea trees, manifolds, and jumper equipment.

"Mad Dog Phase 2 is the first project awarded under our global agreement with BP to provide technologies and services for their worldwide subsea development projects," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "We have a long history of supporting BP's global offshore technology requirements, and today's announcement expands our support of their Gulf of Mexico projects."

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 2012, the Company has approximately 18,400 employees and operates 30 production facilities in 16 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. The word "estimated" and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully manufacture and deliver, and BP's acceptance of, the subsea systems ordered . For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2012, as well as its other filings with the Securities and Exchange Commission. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

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SOURCE FMC Technologies, Inc.