FMC Technologies Awarded $268 Million Subsea Systems Contract for Chevron's Agbami Phase 3 Project

Dec 17, 2014, 08:00 ET from FMC Technologies, Inc.

HOUSTON, Dec. 17, 2014 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from Star Deep Water Petroleum Limited (a Chevron company), operator of the Agbami field, to provide subsea equipment for operations in the Agbami field, offshore Nigeria.

The Agbami field is located 70 nautical miles (113 km) off the coast of the central Niger Delta region, at a water depth of approximately 4,800 feet (1,463 m). The parties in the Agbami field include Famfa Oil Limited, Star Deep Water Petroleum Limited, Petroleo Brasileiro Nigeria Limited (Petrobras), Statoil Nigeria Limited (Statoil), and Nigerian National Petroleum Corporation (NNPC).

"FMC Technologies has supported the Agbami field development for several years," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This subsea equipment will provide additional production and help extend the life of this deepwater development."

FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry. Named by Forbes® Magazine as one of the World's Most Innovative Companies in 2013, the Company has approximately 20,100 employees and operates 30 production facilities in 17 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 "expected" 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 Star Deep Water Petroleum Limited'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 December 31, 2013, 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.



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