FMC Technologies Receives $38 Million Order From StatoilHydro For Troll B Gas Injection Project
HOUSTON--(BUSINESS WIRE)--FMC Technologies, Inc. (NYSE:FTI) announced today that it received an award from StatoilHydro to supply subsea equipment for its Troll B gas injection project in the Norwegian North Sea.
The contract is valued at approximately $38 million and includes two subsea trees and associated flow base systems, wellheads, tubing hangers and related control and communication systems. All equipment will be manufactured at FMC's Kongsberg, Norway and Dunfermline, Scotland operations with deliveries expected to commence in early 2010.
Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems, commented, "StatoilHydro recently announced their intent to employ a gas injection system in an effort to increase oil recovery on the Troll B platform by as much as 17 million barrels, and we are pleased to be a part of this important project."
FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company 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. The Company also produces food processing equipment for the food industry and specialized equipment to service the aviation industry. Named by FORTUNE Magazine as America's Most Admired Oil and Gas Equipment, Service Company in 2005, 2006 and 2008, FMC Technologies employs approximately 13,000 people and operates 33 manufacturing facilities in 19 countries. For more information visit www.fmctechnologies.com.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. These risks and uncertainties are described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and may be modified in subsequent quarterly reports filed by the Company with the Securities and Exchange Commission that may be accessed on the Company's website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
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