FMC Technologies Awarded Subsea Contract for Eni's Block 15/06 West Hub Development

HOUSTON, Sept. 6, 2016 /PRNewswire/ -- FMC Technologies, Inc. will provide subsea multiphase boosting pumps, manifolds, and installation support services for Eni Angola's Block 15/06 West Hub Development Project located off the coast of Angola.

The company's subsea multiphase boosting pumps improve production economics by reducing backpressure on the reservoir, increasing flow rates and total recoverable reserves. Multiphase pumps have a wide operating envelope and are suitable for a broad range of conditions.

"This is our second award for our new subsea multiphase boosting system and we are confident that this technology will be a critical and important part in supporting increased deepwater field recovery," said Tore Halvorsen, Senior Vice President of Subsea Technologies at FMC Technologies.

Eni is the operator of Block 15/06 with a 36.84 percent stake and Sonangol EP is the Concessionaire. The other Partners of the joint venture are Sonangol Pesquisa e Produção (36.84 percent) and SSI Fifteen Limited (26.32 percent).

About FMC Technologies

FMC Technologies, Inc. (NYSE: FTI) is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry. We help our customers overcome their most difficult challenges, such as improving shale and subsea infrastructures and operations to reduce cost, maintain uptime, and maximize oil and gas recovery. Named by Forbes® Magazine as one of the World's Most Innovative Companies in 2013, the company has approximately 15,500 employees and operates 29 production facilities and services bases in 18 countries. Visit www.fmctechnologies.com or follow us on Twitter @FMC_Tech for more information.

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 deliver, and the customer's acceptance of, the subsea products 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 Dec. 31, 2015, 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.

Related Links

http://www.fmctechnologies.com