HOUSTON, Dec. 30, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil for the manufacture and supply of a Workover System (WOS) to be installed on the Snorre B platform. The award has an approximate value of $114 million in revenue.
The new WOS will replace an earlier system and will allow Statoil to perform intervention activities designed to increase performance and oil recovery from the field's subsea wells.
"This workover system is designed to support Statoil's standardized subsea equipment and its scheduling program for Snorre B," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "By standardizing the workover system, rig time can be more efficiently allocated, reducing costs and enhancing productivity."
FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE庐 Magazine as the World's Most Admired Oil and Gas Equipment, Service Company in 2012, the Company has approximately 19,000 employees and operates 30 production facilities in 16 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 .
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995.聽 The word "estimated" and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature.聽Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections.聽Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully deliver, and Statoil's acceptance of, the subsea products ordered.聽For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company's Annual Report on Form 10-K for the聽year ended December 31, 2012, as well as its other filings with the Securities and Exchange Commission. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.聽The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
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SOURCE 聽FMC Technologies, Inc.
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