HOUSTON, May 2, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has been awarded a two year extension to an existing contract by Island Offshore Management AS (Island Offshore) to provide Light Well Intervention (LWI) services.
The LWI services will be performed from Island Offshore's Island Constructor vessel on wells operated by BP Exploration Operating Company Ltd (BP). LWI services enable cost effective intervention operations into existing subsea wells resulting in increased recovery from mature subsea fields. The services are scheduled to be performed in 2014 and 2015.
"We are pleased to continue to support Island Offshore and their customer BP with our LWI services," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This contract illustrates the continued demand for LWI services by major operators such as BP."
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. Words such as "estimated," "scheduled" 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 FMC Technologies' ability to successfully manufacture and deliver, and Island Offshore Management AS's acceptance of, the subsea services ordered. For additional information regarding known material factors that could cause actual results to differ from projected results, please see FMC Technologies' 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. FMC Technologies cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. FMC Technologies 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.