FMC Technologies Receives $50 Million Order For Statoilhydro’s Yttergryta Development Project
FMC Technologies, Inc. (NYSE:FTI) announced today that it has signed an agreement with StatoilHydro for the supply of products and services to support development of the Yttergryta project. The agreement represents revenue of approximately $50 million for FMC Technologies.
The Yttergryta project is a gas field located approximately three miles (five kilometers) northwest of StatoilHydro’s Asgard B development in the Norwegian Sea. FMC Technologies’ scope of supply includes a horizontal subsea tree system, flow control module, choke, tubing hanger, flow base, umbilical and various monitoring and testing systems. Deliveries are expected to commence in the summer of 2008.
Commenting on the announcement, Tore Halvorsen, FMC Technologies’ Senior Vice President of Global Subsea Production Systems, said, “We are proud of our relationship with StatoilHydro and our role in their exploration and production efforts.”
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.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.