HOUSTON, April 25, 2011 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Hibernia Management and Development Company Ltd. (HMDC) to manufacture and supply subsea systems for the Hibernia Southern Extension Project.
The Hibernia Southern Extension Project is an expansion of the Hibernia field, located on the Grand Banks, approximately 200 miles (315 kilometers) southeast of St. John's, Newfoundland and Labrador. FMC's scope of supply includes provision for up to six subsea injection trees and wellheads, one manifold and associated control systems. All equipment will be manufactured at FMC's St. John's and Houston operations. Deliveries will commence in the second quarter of 2013.
"Hibernia Southern Extension is a significant offshore project," said John Gremp, President and Chief Executive Officer of FMC Technologies. "We look forward to supporting ExxonMobil Canada and its co-venturers' efforts and to expanding our technologies in Canada's offshore fields."
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 11,500 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 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.