HOUSTON, June 25, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from Total Upstream Nigeria Ltd. for subsea equipment for the Egina field. The award has an estimated value of $1.2 billion.
The Egina field is located in Block OML 130 offshore Nigeria. FMC Technologies' scope of supply includes subsea trees and wellheads, manifolds, installation tooling, flowline connection systems, and associated control systems. The equipment is scheduled for delivery commencing in 2015.
"FMC Technologies is pleased to provide Total with the subsea systems required to develop the Egina field," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This significant project will be the largest subsea project to date in West Africa and is supported by our local content strategy as well as by recent expansions to our facilities in Lagos and Onne."
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 18,900 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. Words such as "estimated," "scheduled" 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 FMC Technologies' ability to successfully manufacture and deliver, and Total Upstream Nigeria Ltd'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 FMC Technologies' Annual Report on Form 10-K for the year ended December 31, 2012, as well as its other filings with the Securities and Exchange Commission. FMC Technologies cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. FMC Technologies 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts