HOUSTON, Dec. 21, 2010 /PRNewswire-FirstCall/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a five-year Enterprise Framework Agreement (EFA) with Shell with an option to extend the agreement for an additional five years. This agreement facilitates to international projects the same mutual benefits that Shell and FMC have enjoyed through a strategic Gulf of Mexico relationship that has existed over the past 17 years.
Under the agreement, Shell's business units in the Americas intend to utilize FMC for all deepwater subsea equipment projects within the scope of the agreement, unless tendering is otherwise required. Specific scope of supply includes subsea trees, mounted controls, processing equipment, manifolds, sled components, jumpers and various other hydraulic, chemical, electrical and control systems. This agreement for deepwater subsea equipment is also available for use by other Shell global business units as may be allowed by local commercial and legal requirements.
"FMC Technologies has had a longstanding alliance with Shell for projects in the Gulf of Mexico," said John Gremp, President and Chief Operating Officer of FMC Technologies. "In addition, we have supported a variety of Shell's international projects, such as Parque das Conchas, Gumusut and a number of other offshore and surface developments. This agreement is a significant addition to our relationship and we are excited about the future prospects it holds."
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.