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FMC Technologies to Supply Subsea Systems for Hydro's Ormen Lange Southern Field Development.


HOUSTON -- FMC Technologies FMC Technologies, Incorporated (NYSE: FTI), is an American machinery and oil services technology company. FMC Technologies was incorporated in 2000 when FMC Corporation divested its machinery businesses. FMC Technologies Inc. , Inc. (NYSE NYSE

See: New York Stock Exchange
:FTI FTI Free thyroxine index, see there ) announced today that it has been chosen to supply the 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".  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 See fixed mobile convergence.  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 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.

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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Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 26, 2007
Words:413
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