FMC Technologies Awarded $30 Million Contract for StatoilHydro's Peregrino Project

abarrelfullabarrelfull wrote on 13 Jul 2012 11:39

June 3, 2009

FMC Technologies, Inc. (NYSE: FTI) announced today that it has been awarded a contract from StatoilHydro for the manufacture and installation of surface wellheads and surface production trees for the Peregrino project. The contract is valued at approximately $30 million in revenue for FMC.

Located in approximately 400 feet (120 meters) of water offshore Brazil in the Campos Basin, Peregrino is a heavy oil field development that will be completed in three phases and include approximately 60 wells. Today's announcement supports phase one of the project and includes 30 production wells and seven injection wells. The equipment will be manufactured at FMC's facility in Rio de Janeiro. Deliveries are expected to commence in the first quarter of 2010.

"We are pleased to be a part of the Peregrino project, our first surface wellhead project with StatoilHydro in Brazil," said Bob Potter, FMC's Senior Vice President, Energy Processing and Global Surface Wellhead. "This positions FMC as the leading supplier of premium surface wellheads and trees in South America."

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