2008-05-22 22:05:40 -
www.fmctechnologies.com - FMC Technologies, Inc. (NYSE:FTI) announced today that it has received an award to supply the subsea production system for Petrobras' (NYSE: PBR, PBRA) Tambau gas field. The award has a value of approximately $140 million in revenue to FMC Technologies.
The subsea production system, rated at 10,000 psi, will be installed in approximately 4,400
feet (1,350 meters) of water in the Santos Basin offshore Brazil. FMC Technologies' primary scope of supply includes four vertical subsea trees, with an option for two additional trees, as well as manifolds, controls and associated equipment. The project will be engineered and manufactured at FMC Technologies' facility in Rio de Janeiro. Deliveries are expected to commence in the fourth quarter of 2009.
"We are delighted to continue supporting Petrobras with their projects," said John Gremp, FMC Technologies' Executive Vice President of Energy Systems. "Our operation has supplied the largest portion of Petrobras' currently installed subsea equipment offshore Brazil. Including today's announcement, Petrobras has now awarded our Brazilian operation more than 300 subsea trees and 21 subsea manifolds integrated with multiplex controls."
Through its FMC CBV Subsea business in Brazil, FMC Technologies has been supplying subsea solutions for the Brazilian oil industry since 1961. With two facilities in Rio de Janeiro and one service base in Macae, FMC Technologies' capabilities in Brazil include local engineering, project management, manufacturing, integration testing, installation and customer support.
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. The Company also produces food processing equipment for the food industry and specialized equipment to service the aviation industry. Named by FORTUNE Magazine as America's Most Admired Oil and Gas Equipment, Service Company in 2005, 2006 and 2008, FMC Technologies employs approximately 13,000 people and operates 33 manufacturing facilities in 19 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, 2007 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.
FMC Technologies, Inc., Houston
Investors: Rob Cherry, 281-591-4560
or
Media: Ellen Bates, 281-445-6559
