HOUSTON, Sept. 20, 2011 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has been awarded a contract by BG Norge, a subsidiary of BG Group, for the manufacture and supply of subsea production equipment to support the Knarr oil and gas field. The contract has a value of approximately $135 million in revenue to FMC Technologies.
The Knarr field, formerly known as Jordbaer, is located in Norwegian block 34/3 of the North Sea in water depths of approximately 1,320 feet (400 meters). FMC's scope of supply includes three each of subsea production trees and water injection trees. The Company will also provide six subsea control modules, five wellheads, two manifolds and other related equipment and controls. Deliveries will commence in the spring of 2013.
"This is the first call-off order under the new multi-year frame agreement," said Tore Halvorsen, FMC's Senior Vice President, Global Subsea Production Systems. "We recently completed a detailed engineering study for the project, and we are eager to now support the field with our subsea systems."
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 2010, the Company has approximately 12,500 employees and operates 27 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. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. These risks and uncertainties are described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, and as modified in subsequent quarterly reports filed by the Company with the Securities and Exchange Commission that may be accessed on the Company's website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
SOURCE FMC Technologies, Inc.