FMC Technologies to Supply $70 Million Workover System for Statoil's Statfjord Field

abarrelfull wrote on 02 Jun 2011 08:38
Tags: fmc norway services statoil

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FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil for the manufacture and supply of a workover system to support the Statfjord field. The award has a value of approximately $70 million in revenue to FMC Technologies.

Statfjord is one of the oldest producing fields on the Norwegian continental shelf and one of the largest oil discoveries in the North Sea. Statoil will use the workover system to perform intervention activities on their subsea wells in order to increase performance and enhance oil recovery. It will be the first standardized workover system supplied to Statoil by FMC.

"This workover system is designed to support Statoil's rig scheduling program and its standardized subsea equipment," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "As a result, rig time can be more efficiently allocated, reducing costs and enhancing productivity."

FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World's Most Admired Oil and Gas Equipment, Service Company in 2010, the Company has approximately 12,000 employees and operates 27 production facilities in 16 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. For more information, visit www.fmctechnologies.com.

• FMC Technologies to Supply $70 Million Workover System for Statoil's Statfjord Field

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