FMC Technologies to Supply Subsea Systems for Norsk Hydro's Oseberg Delta Field in the North Sea
July 07 2005 - 6:00AM
PR Newswire (US)
FMC Technologies to Supply Subsea Systems for Norsk Hydro's Oseberg
Delta Field in the North Sea HOUSTON, July 7 /PRNewswire-FirstCall/
-- FMC Technologies, Inc. (NYSE:FTI) announced today that its FMC
Kongsberg Subsea AS subsidiary has signed a contract with Norsk
Hydro ASA (NYSE:NHY) to supply subsea systems for the Oseberg Delta
field in the North Sea. The contract is valued at approximately $25
million in revenue to FMC Technologies. The contract scope includes
two horizontal subsea trees, a template manifold and a production
control system. Deliveries are scheduled to commence in July 2006
and to be completed by year-end 2006. Oseberg Delta is a satellite
field that will be connected to the Oseberg-D platform. Oseberg
Delta is in water depths of approximately 102 meters (335 feet).
"This contract award for the Oseberg Delta Field reflects our
extensive experience as a subsea solutions provider in the North
Sea, as well as the strength of our relationship with Norsk Hydro,"
said Peter D. Kinnear, Executive Vice President, FMC Technologies.
"As a preferred supplier to Norsk Hydro, we are pleased to be
chosen to provide equipment and systems that help them meet their
challenges." FMC Technologies, Inc.
(http://www.fmctechnologies.com/ ) is a global leader providing
mission-critical technology solutions for the energy, food
processing and air transportation industries. FMC Technologies
designs, manufactures and services technologically sophisticated
systems and products for its customers through its Energy Systems
(comprising Energy Production Systems and Energy Processing
Systems), FoodTech and Airport Systems businesses. FMC Technologies
employs approximately 9,000 people and operates 31 manufacturing
facilities in 16 countries. 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 Company's filings with the Securities and
Exchange Commission, including the risks and uncertainties
described 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 Quarterly
Report on Form 10-Q for the quarter ended March 31, 2005. The
Company cautions shareholders and prospective investors that actual
results may differ materially from those indicated by the
forward-looking statements. DATASOURCE: FMC Technologies, Inc.
CONTACT: media, Marvin Brown, +1-281-591-4212, or Bruce Bullock,
+1-281-591-4429, or investors, Maryann Seaman, +1-312-861-6414, all
of FMC Technologies, Inc. Web site: http://www.fmctechnologies.com/
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