HOUSTON and PARIS, Nov. 4, 2016 /PRNewswire/ -- The FMC Technologies and Technip alliance has received an integrated engineering, procurement, construction and installation (EPCI) contract from Statoil for its Trestakk field in the Norwegian Sea. The contract was won based on an optimized subsea field layout, accomplished through close collaboration with Statoil during a FEED study performed by FMC Technologies' and Technip's joint venture Forsys Subsea.
Technip will supply the flexible riser, production flowline, gas injection line, flexible jumpers and umbilicals. FMC Technologies will provide the subsea production system — including subsea trees and completion system, a manifold, wellheads, subsea and topside control systems — as well as tie-in hardware and tools.
"This award demonstrates that our alliance with Technip can deliver real benefits to customers by integrating our products, systems and services," said FMC Technologies President and CEO Doug Pferdehirt. "It shows that customers are embracing a new way of doing business that involves engaging with us early through integrated FEED studies that can lead to integrated EPCI projects. This provides us with even greater confidence that TechnipFMC, as one company, will be uniquely positioned to deliver truly integrated projects."
"Our value proposition builds on early involvement and integrated solutions. Through earlier and broader vision on projects, we can simplify subsea field architectures and thus help our clients to significantly improve project economics," said Thierry Pilenko, Technip's Chairman and CEO. "We are proud to work with Statoil on the Trestakk project."
Trestakk is an oil and associated gas field located in the Norwegian Sea in block 6406/3, production license PL091, about 27 kilometers southeast of Åsgard A. The water depth in the region is approximately 300 meters.
About Technip Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our close to 32,500 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges. Present in 45 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction. Technip shares are listed on the Euronext Paris exchange, and its ADR is traded in the U.S. on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).
About FMC Technologies FMC Technologies, Inc. (NYSE: FTI) is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry. We help our customers overcome their most difficult challenges, such as improving shale and subsea infrastructures and operations to reduce cost, maintain uptime, and maximize oil and gas recovery. The company has approximately 14,500 employees and operates 29 major production facilities and services bases in 18 countries. Visit www.fmctechnologies.com or follow us on Twitter @FMC_Tech for more information.
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The word "estimated" and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully deliver, and the customer's acceptance of, the subsea products ordered. For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2015, as well as its other filings with the Securities and Exchange Commission. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.