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Forum Energy Technologies Awarded Contract For Eight Remotely Operated Vehicles From Subsea 7

Stocks in this article: FET

Forum Energy Technologies, Inc. (NYSE: FET) today announced that it received an order from Subsea 7 S.A. to supply eight work-class remotely operated vehicle (ROV) systems. The ROVs will be delivered through late 2014 and 2015.

The order comprises two Perry™ XLX Evo 200HP ROVs for Subsea 7’s new-build Heavy Construction Vessel and six Perry XLX-C 150HP ROVs for three new-build Pipe-lay Support Vessels for the Brazilian market. The Perry XLX Evo heavy work-class and XLX-C medium work-class ROVs are the latest generation of the Perry XL series. The XLX-C features enhanced performance across the full range of intervention and survey activities without compromising the reliability of the XL series.

“Forum is pleased with its association with Subsea 7, a premier subsea contractor,” said Bill Boyle, Forum Subsea Technologies’ Senior Vice President. “The choice of Perry vehicles for the operationally demanding Brazilian market represents a vote of confidence in the reliability of the XLX-C system and supports Forum Subsea’s strategy of providing first class engineering, and after-market support and service to Subsea 7 and our other Brazilian customers from our facilities in Rio de Janeiro and Rio das Ostras.”

Forum Energy Technologies, Inc. is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company’s products include highly engineered capital equipment as well as products that are consumed in the drilling, well construction, production and transportation of oil and natural gas. With over 3,500 employees, Forum is headquartered in Houston, TX with manufacturing and distribution facilities strategically located around the globe. For more information, please visit www.f-e-t.com .

Copyright Business Wire 2010

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