FMC Technologies to Supply Subsea Gas Manifolds for Petrobras' Plangas Project.HOUSTON -- FMC Technologies, Inc. (NYSE NYSE See: New York Stock Exchange :FTI FTI Free thyroxine index, see there ) announced today that Petrobras has chosen FMC See fixed mobile convergence. to supply the two subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". gas gathering manifolds for Petrobras' Plangas project, offshore Brazil. The contract has a value of approximately $52 million in revenue to FMC Technologies. FMC's scope of supply consists of two subsea manifolds, each with eight 10-inch inlets and two 16-inch outlets, operated by multiplexed subsea control systems. The manifolds will allow export of gas from the Roncador, Albacora East and other Campos Basin fields. Deliveries are scheduled to begin in 2008. "We are pleased to be chosen by Petrobras to supply the manifold systems for this key project that will support Brazil in achieving gas self-sufficiency," said John Gremp, Executive Vice President, FMC Technologies. The project will be engineered and manufactured at FMC Technologies' facility in Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r . With two facilities in
Rio de Janeiro and one service base in Maca[R] , FMC Technologies'
capabilities in Brazil include local engineering, project management,
manufacturing, integration testing, installation and customer support.
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 well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. 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. (www.fmctechnologies.com) This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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. |
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