HOUSTON, July 5, 2011 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil for the manufacture and supply of subsea workover adapters. The award has a value of approximately $43 million in revenue to FMC Technologies.
FMC's scope of supply includes eight workover adapters for horizontal subsea production trees, five adapters for drill pipe landing strings as well as topside controls. The equipment will be manufactured at FMC's facility in Kongsberg, Norway. Deliveries will commence in the second quarter of 2012.
"This equipment will support workover operations at four fast-track fields in the North Sea," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "It provides added flexibility and brings standardization to Statoil's workover system portfolio."
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 12,000 employees and operates 27 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. 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, 2010, 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.
(Logo: http://photos.prnewswire.com/prnh/20081222/LAM028LOGO)
SOURCE FMC Technologies, Inc.
Share this article