FMC Technologies Awarded $325 Million Subsea Systems Contract for Chevron’s Wheatstone Project
HOUSTON, Nov. 30, 2011 /PRNewswire/ — FMC Technologies, Inc (NYSE : FTI) announced today that its Australian subsidiary has signed an agreement with Chevron Australia Pty Ltd for the design, manufacture and supply of subsea production systems to support the Wheatstone Project. The contract has an approximate value of $325 million in revenue to FMC Technologies.
The Chevron-operated Wheatstone Project comprises the Wheatstone and Iago gas fields, located offshore Western Australia in water depths between 330 and 850 feet (100 to 260 meters). FMC’s scope of supply includes 11 subsea production trees, 11 wellheads, three manifolds, subsea and topside controls and well access systems. The equipment will be supplied from FMC’s Asia-Pacific operations, with deliveries scheduled to commence in 2013.
“We are pleased to supply Chevron with the subsea systems for Wheatstone, which will be one of Australia’s largest resource projects,” said Tore Halvorsen, FMC’s Senior Vice President, Global Subsea Production Systems. “FMC has a strong and established presence in Australia, and today’s announcement provides excellent opportunities for the Australian industry to participate in this project as primary and secondary suppliers, demonstrating our commitment and maintaining our subsea leadership position in the region.”
FMC is utilizing the ProjectConnect website (www.ProjectConnect.com.au) to advertise these opportunities for primary and secondary suppliers.
FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNEÃ‚® 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.
SOURCE FMC Technologies, Inc.