FMC Technologies And Woodside Energy Sign Five-Year Global Alliance Extension Agreement
FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a five-year extension to its existing five-year frame agreement with Woodside Energy Limited in Australia. Under the agreement, FMC Technologies will provide subsea tree systems for the next five years, and associated aftermarket services for the next six years, with options to extend the agreement to ten years.
“Woodside has been a major customer of FMC’s for the last fifteen years and a frame agreement partner since 2003,” said Tore Halvorsen, Senior Vice President of Global Subsea Production Systems at FMC Technologies. “Under the prior frame agreement, we manufactured and supplied more than 65 subsea tree systems to support their developments and we are excited about the opportunity to continue to provide our subsea technology and offshore support services.”
Mr. Halvorsen added that Woodside is the largest liquid natural gas (LNG) operator in Australia and has an expanding portfolio of potential offshore projects, including expansion of its $12 billion Pluto LNG project, as well as its Browse and Sunrise developments.
“Woodside plans to be a leading, global supplier of LNG by 2015. This agreement, which is expected to position FMC to supply more than 80 subsea tree systems, will support their efforts while enhancing FMC’s local capabilities in Australia.”
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.
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