Dec 16, 2010, 08:00 ET
HOUSTON, Dec. 16, 2010 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Norske Shell for the manufacture and supply of subsea production equipment for the Ormen Lange development project in the North Sea. The award has a value of approximately $95 million in revenue.
FMC's scope of supply includes one eight-slot manifold, four pipeline end modules, related control systems and connection equipment. Deliveries are scheduled to commence in the second quarter of 2011.
"FMC supplied the initial subsea system at the Ormen Lange field, which is Europe's deepest subsea development at 3,300 feet (1,000 meters)," said Tore Halvorsen, FMC's Senior Vice President, Global Subsea Production Systems. "We are pleased to strengthen this relationship with today's announcement, which reflects our extensive experience in the North Sea and with this project."
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 11,200 employees and operates 25 production facilities in 15 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, 2009 and may be 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.
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