FMC Technologies Receives $38 Million Order From Statoilhydro For Troll B Gas Injection Project
FMC Technologies, Inc. (NYSE:FTI) announced today that it received an award from StatoilHydro to supply subsea equipment for its Troll B gas injection project in the Norwegian North Sea.
The contract is valued at approximately $38 million and includes two subsea trees and associated flow base systems, wellheads, tubing hangers and related control and communication systems. All equipment will be manufactured at FMC’s Kongsberg, Norway and Dunfermline, Scotland operations with deliveries expected to commence in early 2010.
Tore Halvorsen, FMC’s Senior Vice President of Global Subsea Production Systems, commented, “StatoilHydro recently announced their intent to employ a gas injection system in an effort to increase oil recovery on the Troll B platform by as much as 17 million barrels, and we are pleased to be a part of this important 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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