FMC Technologies Receives $62 Million Contract to Support Marulk Field Development

abarrelfull wrote on 26 Apr 2013 07:04
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March 8, 2010

FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil ASA for the manufacture and supply of subsea production equipment to support the Marulk field. The award, a call-off from FMC's existing frame agreement with Statoil, has a value of approximately $62 million in revenue to FMC Technologies.

The Marulk field is located in the Norwegian Sea, approximately 18 miles (30 kilometers) southwest of the Norne field at a water depth of 1,200 feet (365 meters). The initial development will consist of two wells tied back to the Norne floating production, storage and offloading vessel. FMC's scope of supply includes the manufacture of two subsea trees, one manifold, one template, subsea control modules and associated topside controls and connection equipment. The systems will be manufactured and assembled at FMC's operations in Kongsberg, Norway and Dunfermline, Scotland. Initial deliveries are scheduled to commence in the second quarter of 2011.

"We appreciate the opportunity to continue our relationship with Statoil and Eni Norge," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "FMC has a strong history in the region, including our support of the Norne and Alve fields, and the Marulk project will benefit from this history and continue to add to our experience in the area."

Eni Norge AS is operator of the Marulk field. The other partners include Statoil Petroleum AS and DONG E&P Norge.

• FMC Technologies Receives $62 Million Contract to Support Marulk Field Development

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