FMC Technologies Awarded $340 Million Contract for Subsea Systems for Tullow Ghana's TEN Project
HOUSTON, Oct. 15, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from Tullow Ghana Limited to supply subsea systems for its Tweneboa-Enyenra-Ntomme Development (TEN Project) offshore Ghana. The order has an estimated value of $340 million in revenue.
FMC Technologies' scope of supply includes subsea trees, manifolds, tooling, associated subsea control systems and systems integration. FMC Technologies has been operating in Ghana since 2008 and has recently completed the assembly and testing of the first Ghanaian-built subsea trees at its support base in Takoradi.
"FMC Technologies has made significant investments in facilities and capacity to support developments in Ghana," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This award allows FMC Technologies to continue supporting Tullow Ghana in its ongoing offshore 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 2012, the Company has approximately 18,900 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 deliver, and Tullow Ghana 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, 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.
SOURCE FMC Technologies, Inc.