FMC Technologies Awarded $40 Million Subsea Systems Contract From LLOG
HOUSTON, Dec. 7, 2011 /PRNewswire/ — FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with LLOG Exploration Company, LLC, for the design, manufacture and supply of subsea production systems to support its Who Dat project in the U.S. Gulf of Mexico. The award is valued at approximately $40 million in revenue to FMC.
FMC’s scope of supply includes seven subsea production trees and control systems. The equipment will be supplied from the Company’s operation in Houston and deliveries are expected to begin in 2012.
“We have supported LLOG projects for many years, and since 2008, we have also had a formal alliance in place to support their Gulf of Mexico projects,” said John Gremp, FMC’s Chairman, President and Chief Executive Officer. “They have significant prospects and production in the Gulf, and we are pleased to be their subsea systems supplier.”
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. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” and similar expressions, including the negative thereof, are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on the Company’s current expectations and beliefs concerning future developments and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that any projected results or events will be achieved.
All of the Company’s forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company’s control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Such risks and uncertainties include, but are not limited to, the Company’s ability to successfully manufacture and deliver, and LLOG’s acceptance of, the subsea systems ordered. For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
SOURCE FMC Technologies, Inc.