FMC Technologies Receives $33 Million Subsea Equipment Order for Total's Pazflor Field
HOUSTON, Oct. 17, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from Total E&P Angola for additional subsea equipment for the Pazflor field. The contract has an estimated value of $33 million in revenue.
The Pazflor field is located in Block 17 offshore Angola. The initial subsea systems delivered to Total for the Pazflor field have been in operation for more than a year. FMC Technologies' scope of additional supply for complementary development under today's contract includes three additional subsea well systems.
"The Pazflor field recently celebrated its one-year anniversary of production," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "We are pleased to continue our support of Total E&P Angola and the Pazflor project, which utilizes some of the industry's most advanced technologies including three subsea gas/liquid separation stations to address hydrate formation, heavy oil, and low reservoir pressure enabling increased oil and gas production."
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 16,100 employees and operates 28 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 manufacture and deliver, and Total E&P's acceptance of, the subsea systems 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, 2011, 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.