FMC Signs $85M China Subsea Contract

By Houston Business Journal

FMC Technologies Inc. has racked up another contract, this time for additional work in the South China Sea.

The Houston-based energy technology company said Monday it will supply subsea production equipment to the China National Offshore Oil Corp. for the companyâ¿¿s work on the Liuhua 4-1 development project.

FMC has supported the project since 1994, Tore Halvorsen, FMCâ¿¿s senior vice president of global subsea production systems, said in a statement.

The agreement has a value of $85 million. FMC (NYSE: FTI) expects to begin work on the contract in the fourth quarter.

In the past month, the company has inked three other equipment deals â¿¿ two with Statoil and one with Total.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/24/fmc-signs-85m-china-subsea-contract.html?ana=thestreet

Copyright bizjournals.com 2010

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