HOUSTON, Jan. 25 /PRNewswire-FirstCall/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil for the design and supply of subsea equipment to support its Snorre field, located in the North Sea. The award will result in approximately $40 million in revenue to FMC Technologies.
FMC's scope of supply includes 10 production risers, tieback connectors and installation tools. The equipment will be engineered and manufactured at FMC's facilities in Houston, Texas and Kongsberg, Norway. Deliveries are scheduled to commence in 2011.
"Statoil recently announced a modification program on the Snorre field that is designed to extend the field's productive life span through 2040," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "FMC has supported the Snorre development for more than 20 years, and we are pleased to continue assisting Statoil with their equipment needs."
FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company has approximately 10,400 employees and operates 19 manufacturing facilities in 14 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, 2008 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.