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FMC Technologies’ Subsea Equipment Sets Deepwater Completion Record 9,627 Feet Below Surface at Shell’s Tobago Field

November 17, 2011

HOUSTON, Nov. 17, 2011 /PRNewswire/ — FMC Technologies, Inc. (NYSE: FTI) announced today that its enhanced vertical deepwater tree (EVDT) system has set a new deepwater completion record of 9,627 feet (2,934 meters). The world record depth was achieved at the Shell-operated Tobago field, part of the Perdido development located in the Gulf of Mexico.

The new depth record surpasses the previous milestone of 9,356 feet (2,852 meters) that was established in 2008 at Shell’s Silvertip field, which is also a part of the Perdido development. That record was also achieved with an FMC-designed EVDT, a subsea oil and gas production tree system that earned FMC the 2008 Spotlight on New Technology Award at the energy industry’s Offshore Technology Conference in Houston. The EVDT offers operators a global standard for vertical completion systems and contains a number of innovative features that provide versatility, installation savings and operational efficiencies in deepwater fields.

Located on Alaminos Canyon Block 815, Shell’s Perdido development includes the Great White, Silvertip and Tobago fields. FMC’s overall scope of supply for the project has included 25 subsea trees pressure rated at 10,000 psi, five subsea caisson separation and boosting systems, two subsea manifolds and related controls and equipment. Shell operates the Tobago field on behalf of partners Chevron, Unocal and Nexen.

“Our strong and longstanding alliance with Shell has played a key role in our ability to develop subsea processing solutions while advancing the industry’s deepwater production capabilities,” said John Gremp, Chairman, President and Chief Executive Officer of FMC Technologies. “We are proud to have been a part of this record-setting effort and look forward to continuing our support of Shell on this and other projects.”

FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World’s Most Admired Oil and Gas Equipment, Service Company in 2010, the Company has approximately 13,500 employees and operates 27 production facilities in 16 countries. FMC Technologies 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. 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, 2010, 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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SOURCE FMC Technologies, Inc.


Source: PR Newswire