FMC Awarded $80m for Deepwater Projects
FMC Technologies, Inc. (NYSE: FTI) announced on Jan. 26 that it has signed a contract with BP (BP) (NYSE:BP) for the manufacture and supply of additional subsea equipment for ongoing deepwater projects offshore Angola. The contract is valued at approximately $80m in revenue for FMC.
FMC's scope of supply includes six subsea trees, control systems, wellheads, tubing hangers, well jumpers and flow bases. The equipment will be manufactured at FMC's Kongsberg, Norway and Dunfermline, Scotland facilities and will be delivered in 2009.