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FMC Technologies Awarded $720 Million Contract for Subsea Systems for eni’s Jangkrik Project in Indonesia

February 13, 2014

HOUSTON, Feb. 13, 2014 /PRNewswire/ — FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from eni Muara Bakau BV to supply subsea systems for its deepwater Jangkrik Complex development offshore Indonesia. The order has an estimated value of $720 million in revenue if the full scope of the award is called off.

FMC Technologies’ scope of supply includes subsea trees, manifolds, jumpers and connection systems, umbilicals, tooling and associated topside and subsea controls systems. The Jangkrik field is located in the Muara Bakau working area, in Makassar Straits offshore Kalimantan, Indonesia, approximately 44 miles (70 kilometers) from Balikpapan.

FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry. Named by Forbes® Magazine as one of the World’s Most Innovative Companies in 2013, the Company has approximately 19,300 employees and operates 30 production facilities in 17 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 word “estimated” and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company’s ability to successfully deliver, and eni’s acceptance of, the subsea products ordered. For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, as well as its other filings with the Securities and Exchange Commission. 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.

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SOURCE FMC Technologies, Inc.


Source: PR Newswire



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