FMC Technologies to Supply Subsea Processing and Production Systems for Total's Pazflor Project in Block 17 Offshore Angola

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Jan 02, 2008

FMC Technologies, Inc. (NYSE:FTI) announced today that it has received the award to supply deepwater subsea processing and production systems to Total Exploration & Production Angola. The systems will be used in Total's Pazflor Project, located in Block 17 deepwater offshore Angola. The award has a value of approximately $980 million in revenue to FMC Technologies.

FMC Technologies' scope of supply includes three gas-liquid separation systems, which marks the first-ever deployment of subsea separation technology in West Africa, as well as 49 subsea trees and wellhead systems. In addition, FMC Technologies will supply three 4-slot production manifold systems; production control and umbilical distribution systems; gas export and flowline connection systems; ROV tooling; and local support for installation and start up activities. Deliveries will be completed over a multi-year period and are expected to commence in 2009. Revenues on the project will be recognized beginning in early 2008.

Sociedade Nacional de Combustiveis de Angola (Sonangol) is the Block 17 concessionaire. In addition to Total E&P Angola, other partners in the Block are Esso Exploration Angola (Block 17) Ltd., BP Exploration (Angola) Ltd., and StatoilHydro.

"FMC has now been awarded five subsea processing projects in four major deepwater basins in just the last two years," said John Gremp, FMC Technologies Executive Vice President. "We are proud to be selected to develop these systems, and we look forward to working with Sonangol, Total and their partners in the implementation of our state-of-the-art technology in West Africa."

The Pazflor Project targets development of hydrocarbons in water depths between approximately 2,000 feet (600 meters) and 4,000 feet (1,200 meters). The overall development currently consists of 49 subsea wells connected via subsea production lines, injection lines and risers to a spread moored floating production, storage and offloading (FPSO) vessel.

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