FMC Technologies to Supply Subsea Gas Compression Control Systems for StatoilHydro's Asgard Minimum Flow Project

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December 10, 2007

FMC Technologies, Inc. (NYSE:FTI) announced today that it has been awarded a contract to supply subsea gas compression control systems to StatoilHydro. The award is part of a major qualification program run by StatoilHydro for the development and qualification of all critical components for a subsea gas compression system within its Asgard field in the North Sea. The contract has a value of approximately $35 million in revenue to FMC Technologies.

FMC Technologies' scope of supply includes the qualification of critical control system components, including a subsea active magnetic bearing control system for the compressor (to be performed in cooperation with Waukesha Bearings), and a subsea anti-surge actuator and valve. Also included is the addition of anti-surge control features to existing FMC control systems, and development and implementation of new sensor technologies vital to the subsea gas compression application. A control system test is also part of the scope of work.

"We have a strong history of subsea technological successes," said John Gremp, Executive Vice President of FMC Technologies, "and the development of these components is another very important milestone in addressing future subsea compression needs in the industry. We are excited to assist StatoilHydro in this next step of subsea technology development."

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