Fmc Technologies

FMC Tech to Acquire 45% of Schilling Robotics

FMC Technologies, Inc. (NYSE: FTI) and Schilling Robotics announced that they have entered into a definitive agreement whereby FMC Technologies will acquire a 45% interest in Schilling Robotics LLC for $116m in a transaction expected to close no later than December 31, 2008. The acquisition is expected to be accretive to FMC Technologies’ earnings per share in 2009. FMC Technologies is a manufacturer and supplier of subsea production systems.  Schilling Robotics is a producer of ROVs (remotely operated vehicles), ROV manipulator systems, control systems, and other technology equipment and services for oil and gas subsea exploration and production. FMC Technologies Chairman, President and CEO, Peter D. Kinnear said, “This is a unique and exciting opportunity to expand our subsea business in a new direction.  Our global subsea franchise will assist Schilling Robotics in extending its reach worldwide and better position it to serve its customers.  Additionally, the relationship will allow FMC to participate more fully in the increasing integration of remote activities performed on the seabed such as subsea processing, well intervention and production optimization.”   In addition to its expected purchase of 45% of Schilling by year end, FMC Technologies is acquiring the rights to exercise an option over the two year period beginning in 2012 to acquire the remaining 55% of the company.

FMC Win BP Subsea Equipment Contract

FMC Technologies to manufacture and supply subsea equipment for BP's Thunder Horse Field in the Gulf of Mexico. The Thunder Horse oil field is located in the Mississippi Canyon area of the Gulf of Mexico, 150 miles (240 kilometers) southeast of New Orleans in approximately 6,300 feet (1,920 meters) of water. FMC Technologies' scope of supply includes two manifolds and associated controls equipment . In addition, the scope includes several pipeline end terminations

FMC Technologies Awarded Statoil Contract

FMC Technologies announced it has signed an agreement with Statoil to provide subsea systems for the Vigdis Extension Phase 2 Project in the North Sea. The value of this contract is approximately $25 million. The contract includes subsea trees, a template structure with an integrated manifold, topside control systems, and related equipment. Deliveries are expected to begin in 2006. (Source: Houston Chronicle)

Tidewater Elects Netherland

Tidewater (NYSE: TDW) announced the election of Joseph H. Netherland to its Board of Directors for a term expiring in July 2009. Mr. Netherland served as Chairman of the Board of FMC Technologies from December 2001 until his retirement in October 2008. Mr. Netherland also served as Chief Executive Officer of FMC Technologies from 2001 to March 2007, when he retired as an executive officer of the company. Mr. Netherland was President of FMC Technologies from 2001 to February 2006.

First 20k PSI Subsea Wellhead System

FMC Technologies, Inc. (NYSE: FTI) has signed a contract for the manufacture and supply of FMC's proprietary HC-20 high capacity subsea wellhead system, the oil and gas industry's first subsea wellhead system to be rated and qualified at 20,000 pounds per square inch (psi). In addition to operating at pressures as high as 20,000 psi, the equipment is engineered to perform at temperatures as high as 350 degrees Fahrenheit

FMC Wins $135m BG Norge Deal

FMC Technologies, Inc. (NYSE: FTI) won a contract by BG Norge, a subsidiary of BG Group, for the manufacture and supply of subsea production equipment to support the Knarr oil and gas field. The contract has a value of approximately $135 million in revenue to FMC Technologies. The Knarr field, formerly known as Jordbaer, is located in Norwegian block 34/3 of the North Sea in water depths of approximately 1,320 feet (400 meters)

FMC Technologies Receives Order For CALM Buoys

FMC Technologies, Inc. announced that it has received an order from Ramseyer & Miller International Inc., an affiliate of Techint International Construction Corporation, for the supply of two SOFEC™ CALM (catenary anchor leg mooring) buoy marine export terminals, for installation offshore Ecuador, South America. FMC SOFEC Floating Systems is the designer of the buoys. One of the buoys is planned to be delivered new from inventory

FMC Technologies Announces Executive Changes

FMC Technologies, Inc. (NYSE:FTI) said that  Robert L. Potter has been appointed President of the company. Potter assumes this responsibility from John T. Gremp who remains Chairman and Chief Executive Officer (CEO). "Bob is an experienced and well-respected leader with a deep understanding of our markets and technologies," said Gremp. "He has been integral to our company's success and I look forward to working with him as President of our company to build on our

FMC Opts For Rina LNG TQ

FMC Technologies entrusted Rina Group’s company, RINA Services, with the Technology Qualification of its new technology loading arms designed for installation on the FSRU Toscana and also the Chiksan Articulated Tandem Offshore Loader (ATOL) marine loading arms.   Both feature innovative technologies to transfer LNG in a marine environment, and both are now qualified to enter service.   Dino Cervetto, Technical Services Sector Manager, Rina  Services, said

Tyrihans Field Contract for Fugro

Fugro Structural Monitoring, a division of Fugro Global Environmental & Ocean Sciences Ltd., has been awarded a contract from FMC Technologies to provide a riser management system for the completion/workover riser for Statoil’s Tyrihans Field in the Norwegian North Sea. Working in partnership with MCS, Fugro Structural Monitoring will supply its riser management system, IRIS-RMS, for the project’s C/WO rig. Tyrihans is one of the biggest development projects on the Norwegian