HOUSTON, Sept. 18, 2015 /PRNewswire/ -- FMC Technologies,
Inc. (NYSE: FTI) announced today the award of a new EPC contract
with Statoil where Phase 1 of the Johan Sverdrup field is the first
call-off. The contract has an estimated value of $172 million in revenue and includes subsea
trees, subsea wellheads, manifolds, and control systems
integration.
A frame agreement for add-on systems and a frame agreement for
subsea service offerings have also been signed.
Statoil's Johan Sverdrup field will be the largest offshore oil
find in Norway in 30 years, and it
is estimated to hold 1.7 billion to 3.0 billion barrels of oil
equivalents. The field is expected to produce 550,000 - 650,000
barrels of oil equivalents a day when fully developed, equal to
about 25 percent of current domestic output. Production is slated
to start in late 2019.
"FMC Technologies' long history of working with Statoil and
proven track record for delivering leading-edge technologies made
us a strong candidate for this award," said Tore Halvorsen, Senior Vice President, Subsea
Technologies. "We are excited to play a large role in what will
most certainly be one of the most important developments in the
region for generations to come."
About FMC Technologies
FMC Technologies,
Inc. (NYSE: FTI) is the global market leader in subsea systems and
a leading provider of technologies and services to the oil and gas
industry. We help our customers overcome their most difficult
challenges, such as improving shale and subsea infrastructures and
operations to reduce cost, maintain uptime, and maximize oil and
gas recovery. Named by Forbes® Magazine as one of the World's Most
Innovative Companies in 2013, the company has approximately 19,000
employees and operates 24 production facilities in 14 countries.
Visit www.fmctechnologies.com or follow us on Twitter
@FMC_Tech for more information.
This release contains "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. The
word "estimated" and similar expressions are intended to identify
forward-looking statements, which are generally not historical in
nature. Such forward-looking statements involve significant
risks, uncertainties and assumptions that could cause actual
results to differ materially from our historical experience and our
present expectations or projections. Known material factors that
could cause our actual results to differ from those in the
forward-looking statements include the Company's ability to
successfully deliver, and Statoil's acceptance of, the subsea
products ordered. For additional information regarding known
material factors that could cause actual results to differ from
projected results, please see the Company's Annual Report on Form
10-K for the year ended December 31,
2014, as well as its other filings with the Securities and
Exchange Commission. The Company cautions you not to place undue
reliance on any forward-looking statements, which speak only as of
the date hereof. The Company undertakes no obligation to publicly
update or revise any of its forward-looking statements after the
date they are made, whether as a result of new information, future
events or otherwise.
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SOURCE FMC Technologies, Inc.