FMC Technologies, Statoil Sign Contract

FMC Technologies has signed a contract with Statoil to provide subsea systems for the Tyrihans project in the North Sea. The value of this contract is approximately $216 million in revenue. This contract covers the supply of 13 subsea trees, 5 template structures with manifolds, a topside control system and work-over systems. First deliveries are scheduled for April, 2007, with final deliveries scheduled for November 2008. The Tyrihans oil and gas field is located about 25 miles south of Asgard in roughly 935 feet of water. The field will be tied back to the Kristin platform where the gas and oil will be processed.