July 10, 2008

StatoilHydro Signs Contract With FMC Technologies for Subsea Equipment

FMC Technologies, a provider of technology solutions for the energy industry, has signed a contract with StatoilHydro, an integrated oil and gas company, for the manufacture and supply of additional subsea equipment for its Norne field development, located in the Norwegian Sea.

The contract, valued at approximately $87 million in revenue, is a call-off from a frame agreement that was originally signed in 2007.

According to the companies, FMC's scope of supply includes four subsea trees, one four-slot manifold system and associated wellheads, tubing hangers and related control and communication systems. All equipment will be manufactured at FMC's Kongsberg, Norway and Dunfermline, Scotland operations with deliveries expected to commence during 2009.

Tore Halvorsen, senior vice president of global subsea production systems at FMC, said: "FMC and StatoilHydro have worked closely to develop technologies and solutions for a number of fields through the years. Today's announcement is the third contract that we've signed this month with StatoilHydro and it strengthens our relationship as we continue to develop and deploy innovative technologies."