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FMC Technologies to Supply Deepwater Subsea Separation System for Petrobras' Marlim Field

Posted on: Wednesday, 19 August 2009, 16:40 CDT

HOUSTON, Aug. 19 /PRNewswire-FirstCall/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has been awarded a contract by Petrobras (NYSE: PBR, PBRA) to supply a subsea separation system for the Marlim field, located in the Campos Basin, offshore Brazil. The contract is valued at approximately $90 million in revenue to FMC Technologies.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081222/LAM028LOGO)

FMC's scope of supply consists of a subsea separation and pumping system. The subsea separation module will separate heavy oil, gas, sand and water at a water depth of approximately 2,950 feet (900 meters). The system will apply FMC's separation and sand management technologies, utilizing a novel pipe separator design, licensed and developed in cooperation with StatoilHydro. It is the first deepwater deployment of subsea separation technologies in a mature field, and the first separation of heavy oil and water in a subsea environment in the world. It will also be the first separation system to include subsea reinjection of water into a reservoir to boost production.

The equipment will be jointly engineered between FMC's operations in Brazil, Norway and The Netherlands. Final manufacturing and integration activities will be performed at the company's Rio de Janeiro facility, with deliveries projected to begin in 2011.

"Marlim is the fifth field in the world that will utilize FMC's subsea separation technologies," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "The project will enable a broader application of our separation technologies for future subsea processing opportunities. We look forward to supporting Petrobras in the development of this exciting project."

FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company 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. Named by FORTUNE Magazine as America's Most Admired Oil and Gas Equipment, Service Company in 2008, FMC Technologies has approximately 10,400 employees and operates 19 manufacturing facilities in 14 countries. 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, 2008 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.

Source: PR Newswire

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