HOUSTON, June 6, 2011 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Visund Nord offshore development. The contract has a value of approximately $50 million in revenue to FMC Technologies.
Visund Nord is a fast-track oil and gas field located in water depths of approximately 1,150 feet (380 meters) in the Norwegian sector of the North Sea. FMC's scope of supply includes the manufacture of two subsea production trees, one manifold and associated subsea and topside control systems. The equipment will be based on a standard subsea solution designed by FMC for Statoil. The integrated structure and wellhead systems will be delivered in the spring of 2012 and final deliveries will occur in the first quarter of 2013.
"Visund Nord is the fifth fast-track project we have been awarded from Statoil in the last two years," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "We are pleased that Statoil continues to recognize our strengths and capabilities in supporting their tie-back and fast-track developments."
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.
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SOURCE FMC Technologies, Inc.
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