Oil drilling equipment maker FMC Technologies Inc. (FTI) announced a $62 million contract from Norway-based oil and gas company StatoilHydro ASA (STO). The deal calls for FMC Technologies to manufacture and provide subsea production systems to the Marulk field, located in the Norwegian Sea. Italian giant Eni SpA (E) is the operator of Marulk with a 20% share, while Statoil and Danish player Dong have 50% and 30% interest in the development, respectively.
FMC Technologies said that the contract includes the manufacture of two subsea trees, one manifold, one template, subsea control modules and associated topside controls and connection equipment. The company expects delivery to begin in the second quarter of 2011. The order is part of FMC Technologies’ strong and longstanding relationship with Statoil and Eni, and will be supported by its facilities at Dunfermline, Scotland and Kongsberg, Norway.
The Marulk field is situated in the Norwegian Sea, approximately 30 kilometers southwest of the Norne floating, production, storage and offloading (FPSO) vessel, at a water depth of 365 meters. The initial development will consist of two wells tied back to the Norne production facility. FMC Technologies has supported a number of projects in the region (Norwegian Continental Shelf), including the Norne and Alve fields.
FMC Technologies recently posted better-than-expected fourth-quarter results, despite pricing pressure and reduced order flow. A healthy backlog of $2.5 billion, along with growing international operations and the still favorable outlook for deepwater offshore markets, should help the company weather the current downturn better than most of its peers.
Incorporated in 2000, Houston, Texas-based FMC Technologies is a leading manufacturer and supplier of technology solutions for the energy industry. The company, which operates 19 manufacturing facilities in 14 countries, is engaged in designing, producing and servicing technologically sophisticated systems and products, such as subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems for the oil and gas industry.
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