FMC Technologies to Supply Subsea Systems for Hydro's Ormen Lange Southern Field Development
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Houston, Texas, June 26, 2007 - FMC Technologies, Inc. (NYSE: FTI) announced today that it has been chosen to supply the subsea systems for Norsk Hydro's Ormen Lange Southern Field Development in the Norwegian North Sea. The contract has a value of approximately $166 million in revenue to FMC Technologies.
FMC Technologies' scope of supply includes six subsea trees, one eight slot manifold with protection structures, related control systems and four pipeline end modules with connection equipment. The systems will be engineered and manufactured at the Company's facilities in Kongsberg, Norway and Dunfermline, Scotland. Deliveries are scheduled for the second quarter 2009.
"This contract reflects our extensive experience in the North Sea, as well as the strength of our alliance relationship with Hydro," said John Gremp, Executive Vice President, FMC Technologies. "Through our industry leading technology, we are helping Hydro meet some of its most difficult subsea challenges on this and other projects."
The Ormen Lange Southern Field Development is an expansion of the Ormen Lange field where FMC Technologies supplied the initial subsea systems. The field is located 120 km (75 miles) off the western coast of Norway at a water depth of 900 meters (2,950 feet).
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. 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.
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