FMC Technologies announced today that it has been awarded a contract from Island Offshore to provide a second Riserless Light Well Intervention (RLWI) system for use by Statoil in the Norwegian North Sea. Operations will commence in the second quarter of 2008. The four year contract has a minimum value of approximately $40M to FMC Technologies.
The contract includes use of a new vessel, the Island Wellserver, and a new RLWI system to be built by FMC. The system and services will be provided through FMC's facilities in Kongsberg, Norway.
"RLWI is an important part of our subsea offering to increase oil recovery from subsea wells," said Tore Halvorsen, Senior Vice President, FMC Technologies. "We are pleased that our RLWI technology is supporting Statoil in achieving their targets of increased oil recovery."
For additional information about FMC Technologies' Light Well Intervention Services, please visit www.fmctechnologies.com/Subsea/Products/IOR/LightWellIntervention.aspx
FMC Technologies, Inc. (NYSE:FTI - News) 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. Twice named as the Most Admired Oil and Gas, Equipment Service Company by FORTUNE magazine, FMC Technologies employs approximately 11,000 people and operates 33 manufacturing facilities in 19 countries.
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, 2006 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.
Contact:
FMC Technologies, Houston
Investors:
Maryann Seaman, 281-591-4080
or
Media:
Ellen Bates, 281-445-6559
Source: FMC Technologies
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