FMC Technologies To Supply Subsea Systems For Gumusut-Kakap Project Offshore Malaysia
FMC Technologies, Inc (NYSE: FTI) announced today that it has been awarded a contract by Sabah Shell Petroleum Company Limited for the supply of deepwater subsea systems for the Gumusut-Kakap project.
The Gumusut-Kakap project is located offshore East Malaysia, Sabah, Blocks J & K, in water depths of approximately 4,000 feet (1,250 meters). The scope of supply for phase one of the project includes 15 subsea trees, five manifolds, subsea drilling systems, control systems, flowline connections and related subsea equipment and life-of-field support. Deliveries are expected to commence in late 2008.
The Gumusut-Kakap project becomes the first Malaysian subsea project to be engineered and manufactured at FMC Technologies’ facilities in Kuala Lumpur and Nusajaya, Malaysia. Constructed in 2006, both of these facilities were designed to establish local manufacturing and service capabilities. As part of its technology transfer commitment and Malaysian license agreement, FMC will utilize its deepwater technology, project management and manufacturing processes that have been implemented at the company’s Malaysian facilities during the past two years.
“We are pleased to be a part of the Gumusut-Kakap project,” said John Gremp, executive vice president of FMC Technologies. “We have longstanding relationships throughout the region and we look forward to leveraging our local operations to support this project.”
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. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Cautionary Note Regarding Forward-Looking Statements in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
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