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FMC Technologies Receives $152 Million Subsea Equipment Order For Statoil's Oseberg Delta 2 Project

Stocks in this article: FTISTO





HOUSTON, Dec. 12, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from Statoil (NYSE: STO) for subsea equipment for the Oseberg Delta 2 Project. The order has an estimated value of $152 million in revenue.

FMC Technologies' scope of supply includes five subsea trees, five wellheads, two manifolds, control systems and other associated equipment. The order is the first option from the fast-track portfolio awarded as part of the Gullfaks South deal announced earlier this year. The equipment is scheduled for delivery in 2013 - 2014 and will be engineered and manufactured at FMC Technologies' facilities in Norway and Scotland.

"FMC Technologies began providing subsea equipment for the Oseberg Delta development in 2005," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "We are pleased to be chosen to provide equipment and systems that will help Statoil further develop this field."

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 2012, the Company has approximately 16,800 employees and operates 30 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 .



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 manufacture and deliver, and Statoil's acceptance of, the subsea systems 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, 2011, 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. 

(Logo: http://photos.prnewswire.com/prnh/20081222/LAM028LOGO)

SOURCE FMC Technologies, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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