FMC technologies Increases Supply Of Riserless Light Well Intervention Services To Statoil

FMC Technologies (NYSE: FTI) announced today that it has been awarded a contract from Island Offshore to provide a second Riserless Light Well Intervention (RLWI) system for use by Statoil in the Norwegian North Sea. Operations will commence in the second quarter of 2008. The four year contract has a minimum value of approximately $40M to FMC Technologies.
The contract includes use of a new vessel, the Island Wellserver and a new RLWI system to be built by FMC. The system and services will be provided through FMC’s facilities in Kongsberg, Norway.

“RLWI is an important part of our subsea offering to increase oil recovery from subsea wells,” said Tore Halvorsen, Senior Vice President, FMC Technologies. “We are pleased that our RLWI technology is supporting Statoil in achieving their targets of increased oil recovery.”

For additional information about FMC Technologies’ Light Well Intervention Services, please visit www.fmctechnologies.com/Subsea/Products/IOR/LightWellIntervention.aspx.