Gazprom Awards FMC Technologies $190 Million Subsea Equipment Contract
HOUSTON, July 7 /PRNewswire-FirstCall/ — FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Gazprom Dobycha Shelf LLC for the manufacture and supply of subsea production equipment to support the Kirinskoye field. The award has a value of approximately $190 million in revenue to FMC Technologies.
Kirinskoye is a subsea-to-beach gas and condensate field off Russia’s Pacific coast. It is located in water depths of approximately 300 feet (90 meters) within the Kirinsky Block of the Sakhalin III project, 17 miles (28 km) offshore Sakhalin Island.
FMC’s scope of supply includes the manufacture of subsea production trees, a manifold, wellheads, multiphase meters, choke modules and subsea control modules. The equipment will be manufactured and assembled at FMC’s facilities in Dunfermline, Scotland and Kongsberg, Norway and at FMC’s Multi Phase Meters AS (MPM) operation in Stavanger, Norway. Deliveries are scheduled to commence in the second quarter of 2011.
“We are proud to have been selected for this project, our first subsea development in Russia,” said Tore Halvorsen, FMC’s Senior Vice President of Global Subsea Production Systems. “FMC’s experience and success in delivering subsea-to-beach solutions will help Gazprom meet its goal of serving Russia’s Eastern Gas program and we view this as an opportunity to strengthen our position for future subsea projects in the region.”
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 10,400 employees and operates 25 production facilities in 15 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, 2009 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.