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Forum Energy Technologies Announces The Sale Of Two Sub-Atlantic(TM) ROVs To IKM Subsea

Stocks in this article: FET

HOUSTON, Oct. 19, 2012 (GLOBE NEWSWIRE) -- Forum Energy Technologies, Inc. (NYSE:FET) announced today that IKM Subsea recently added two Forum Sub-Atlantic Remote Operated Vehicles (ROVs) to their existing fleet. IKM Subsea plans to deploy immediately Sub-Atlantic Mohican and Comanche vessels in the North Sea and Singapore respectively. This recent addition brings the total number of ROVs deployed by IKM Subsea to fourteen.

"We recently won a five year frame agreement with Statoil, and we intend to continue our strong growth both in the Norwegian and International market," says IKM Subsea Managing Director Ben Pollard. "The Sub-Atlantic Comanche vehicle is already contracted to a major offshore contractor for a project in Southeast Asia, where it will work together with our other IKM Subsea Work Class ROVs."

IKM Subsea Business Development Manager, Mahesh Govindan added, "Sub-Atlantic's technical and spares support capability in Singapore was one of the key factors in our decision to purchase the vehicles. Further to that, the short delivery date enabled us to work well within the time-line for the project. We see the Sub-Atlantic Mohican and Comanche models as very versatile ROVs for Drill Support and Inspection programs, which further enhances our ability to provide a wider range of services to our clientele."

About Forum Subsea Technologies

Forum Subsea Technologies is a product line of Forum Energy Technologies, Inc. Their ROV product line includes Sub-Atlantic™ electric observation class ROVs and Perry™ hydraulic work-class vehicles used for inspection, survey and deep-water construction, as well as other remote intervention technologies and services. Forum Subsea Technologies is positioned to support its customers through a global sales team and a worldwide network of distributors and service centers.

About Forum Energy Technologies

Forum Energy Technologies Inc., headquartered in Houston, Texas, is a global provider of manufactured technologies and applied products to the energy industry. With approximately 3,200 employees located throughout the world, Forum is well positioned to provide the products and technologies essential to solving the increasingly complex challenges of the subsea, drilling and production sectors of the oil and gas industry. For more information, please visit www.f-e-t.com

CONTACT: Donna Smith - Director of Marketing & Communications
         281.949.2514
         donna.smith@f-e-t.com

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