HOUSTON, Aug. 24 /PRNewswire-FirstCall/ -- FMC Technologies, Inc. announced today that it has received an award from StatoilHydro for the manufacture and supply of subsea equipment for its Gullfaks oil and gas field in the Norwegian North Sea. The award has a value of approximately $73 million in revenue to FMC Technologies.
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FMC's scope of supply includes eight subsea production trees as well as associated equipment and systems including flow control modules and subsea control modules. The project will be managed from FMC's operation in Kongsberg, Norway. Deliveries will commence in the second quarter of 2010.
"This award supports StatoilHydro's efforts to increase oil recovery in the North Sea," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems, "and we are pleased to assist StatoilHydro in optimizing production at the Gullfaks field."
FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry. The Company 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. Named by FORTUNE Magazine as America's Most Admired Oil and Gas Equipment, Service Company in 2008, FMC Technologies has approximately 10,400 employees and operates 19 manufacturing facilities in 14 countries. For more information visit http://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.
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CONTACT: Investors, Rob Cherry, +1-281-591-4560, or Media, Ellen Bates,
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Web Site: http://www.fmctechnologies.com/
