FMC Technologies Perdido Stage II Contract

Tuesday, April 06, 2010

FMC Technologies, Inc. (NYSE: FTI) has signed an agreement with Shell to supply subsea and topside systems for the Perdido Stage II Regional Development Project in the Gulf of Mexico. Terms of the transaction were not disclosed.

FMC's scope of supply includes five subsea production trees and three subsea water injection trees, each rated at 10,000 pounds per square inch (psi). FMC will also manufacture and provide subsea and topside controls, manifold and tie-in equipment, and other systems and services. Deliveries will commence in the third quarter of 2010.

FMC has supported Shell's Perdido project since 2007. In December of 2008, the company's global standard, enhanced vertical deepwater tree system set the current subsea deepwater completion record of 9,356 feet (2,851 meters) in the Gulf of Mexico.

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