FMC Chosen to Supply Subsea Systems for Chevron's Blind Faith Project in the Gulf of Mexico

abarrelfullabarrelfull wrote on 15 Jan 2014 11:38

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Nov. 21, 2005

FMC Technologies, Inc. (NYSE:FTI) announced today that it has been chosen by Chevron (NYSE:CVX) and its partner Kerr-McGee Corp. (NYSE:KMG) to supply subsea systems for its Blind Faith project in the Gulf of Mexico. The contract has a value of approximately $39 million in revenue to FMC Technologies.

FMC Technologies' initial scope of supply for the Blind Faith project includes three high-pressure high-temperature subsea trees and associated structures, production control systems and other related equipment. Deliveries will be completed over several months and are scheduled to commence in the first quarter of 2007.

"We are pleased that FMC Technologies has been chosen for this important Gulf of Mexico project," said Peter D. Kinnear, Executive Vice President — FMC Technologies. "This contract award reaffirms our leadership position as a provider of deepwater technology solutions for the industry's most demanding projects. The FMC Technologies' high-pressure enhanced horizontal subsea systems chosen for this project are among the most technically advanced oil and gas solutions in the world."

The Blind Faith discovery is located in the Gulf of Mexico, Mississippi Canyon 696, approximately 160 miles (257 km) southeast of New Orleans, La. The water depth in the area is approximately 7000 feet (2,134 meters). Chevron operates Blind Faith with a 62.5% interest; Kerr-McGee holds the remaining 37.5% interest.

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