July 1, 2008

FMC Technologies, ConocoPhillips Sign Ekofisk Subsea Equipment Agreement

FMC Technologies has signed a five-year $120 million agreement with ConocoPhillips Scandinavia for the supply of subsea equipment and services for a water injection development at the Ekofisk field in the Norwegian North Sea.

The development is a replacement of the existing Ekofisk 2/4 W injection platform at the southern part of the Ekofisk complex.

The contract includes the project management, engineering, procurement, manufacture and delivery of subsea equipment and offshore support services for eight subsea trees. The contract also has an option for an additional seven subsea trees and future provisions for up to a total of 50 subsea trees.

FMC Technologies's scope of supply includes subsea water injection trees, wellheads, templates, associated control systems with a hydraulic power unit, four-slot hosts, tie-in and connection equipment, an umbilical, sea line protection equipment, completion tools and services.

The equipment will be manufactured at FMC's operations in Kongsberg, Norway, and Dunfermline, Scotland, with initial deliveries expected to commence in early 2009.