FMC Technologies Awarded $50 Million Subsea Equipment Contract for Statoil's Visund Nord Project

abarrelfull wrote on 08 Jun 2011 12:44
Tags: fmc north-sea 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 subsea production equipment to support the Visund Nord offshore development. The contract has a value of approximately $50 million in revenue to FMC Technologies.

Visund Nord is a fast-track oil and gas field located in water depths of approximately 1,150 feet (380 meters) in the Norwegian sector of the North Sea. FMC's scope of supply includes the manufacture of two subsea production trees, one manifold and associated subsea and topside control systems. The equipment will be based on a standard subsea solution designed by FMC for Statoil. The integrated structure and wellhead systems will be delivered in the spring of 2012 and final deliveries will occur in the first quarter of 2013.

"Visund Nord is the fifth fast-track project we have been awarded from Statoil in the last two years," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "We are pleased that Statoil continues to recognize our strengths and capabilities in supporting their tie-back and fast-track developments."

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 Awarded $50 Million Subsea Equipment Contract for Statoil's Visund Nord Project

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