Fmc Technologies Inc News

USA subsea equipment firm FMC Technologies and French engineering company Technip have jointly announced that they expect their merger to be formally complete by January 16. Houston-based FMC and Paris-based Technip will form a new entity called TechnipFMC. Their planned amalgamation was first announced in May. The parties also announced the filing of a Delaware certificate of merger pursuant to which FMC Technologies and a subsidiary of TechnipFMC will merge effective immediately after the merger between Technip and TechnipFMC on January 16, 2017, which will complete the business combination between FMC Technologies and Technip. Trading of the TechnipFMC shares is expected to begin on January 17, 2017, on Euronext Paris at 9:00 a.m. (Paris time) and on the NYSE at 9:30 a.m.

Technip S.A. (Euronext: TEC) and FMC Technologies, Inc. (NYSE: FTI) today announced their respective designees to the Board of Directors of the combined company, TechnipFMC, effective at the close of the proposed combination. The Board of Directors of the combined company will comprise 14 directors, seven designated by FMC Technologies and seven designated by Technip as set forth below. FMC Technologies will appoint the initial Independent Lead Director, in accordance with the terms of the Business Combination Agreement. The Board of Directors will have four committees: Audit, Nominating and Governance, Compensation, and Strategy. The committee chairs and Independent Lead Director are indicated below.  Douglas J.  Claire S.  Richard A.  Kay G.  James M.

The Houston-based subsea specialist FMC Technologies Inc. (FTI) reported first-quarter earnings of $147.6 million, beating Wall Street expectations. The average estimate of 34 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share on a per-share basis. But it had net income of 63 cents. The company has generated first quarter 2015 revenue of $1.7 billion, down 7 percent from the prior-year quarter $1.82 billion, as stronger Subsea Technologies performance was offset by the continued strength of the U.S. dollar and the decline in the North American land market. Subsea Technologies operating profit increased 19 percent from the prior-year quarter to $168.7 million, primarily due to improved execution and stronger project margins related to backlog conversion.

OSV fleet owners Tidewater have elected the recently retired President of FMC Technologies, Robert L. Potter to join its Board of Directors for a term beginning December 1, 2013 and expiring in July 2014. Robert L. Potter will retire from his position as President of FMC Technologies, Inc. on November 30, 2013, a position he has held since August 2012, following 40 years of service with the company. Mr. Potter joined FMC Technologies in 1973 after his graduation from Rice University.

FMC Technologies, Inc. to support Shell's ultra-deepwater project in the Walker Ridge area of the Gulf of Mexico. Stones is located approximately 200 miles (322 kilometers) off the Louisiana coast in approximately 9,600 feet (2,926 meters) of water. FMC Technologies' scope of supply includes eight subsea trees, a subsea manifold, topside and subsea controls and associated equipment. "Deepwater operations in the Gulf of Mexico require advanced capabilities and innovative solutions," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems…

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, “Novel technologies are generally not adequately covered by established codes and procedures.

FMC Technologies receives subsea equipment order for ExxonMobil's Julia Development field. The Julia field is located in the Gulf of Mexico Walker Ridge area in approximately 7,000 feet (2,100 meter) water depth. FMC Technologies' scope of supply includes six subsea trees, a manifold and associated tie-in equipment. "FMC Technologies is pleased to provide ExxonMobil with subsea systems for this offshore project," said Tore Halvorsen , FMC Technologies' Senior Vice President, Subsea Technologies. Houston-based FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry, with 18,900 employees and operates 30 production facilities in 16 countries.

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 , flowline and well jumper kits and umbilical termination assemblies. Deliveries are scheduled to commence in the first half of 2013. "FMC Technologies is pleased to continue supporting BP as they further develop Thunder Horse," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies.

FMC Technologies, Inc.wins order from CNR International Ltd. for subsea equipment for the Baobab field, offshore Ivory Coast. The Baobab field is located in Block CI-40 West Africa approximately 16 miles (25 kilometers) offshore from the Ivory Coast. FMC Technologies' scope of supply includes six subsea trees , eight wellheads , three manifolds , and a Subsea Control System including subsea distribution systems and associated topside control systems . The equipment is scheduled for delivery in 2014. "FMC Technologies is pleased to support CNR International in its ongoing development of the Baobab field," said Tore Halvorsen , FMC Technologies' Senior Vice President, Subsea Technologies.

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. Potter previously served as Executive Vice President of Energy Systems with responsibility for the Subsea Technologies, Surface Technologies and Energy Infrastructure business segments, in addition to several support functions. He has been with the company since 1973. FMC Technologies also announced that Douglas J.

FMC Technologies, Inc. (NYSE: FTI) announced on May 14, 2012 that it has signed an agreement with Technip France, on behalf of the Technip Samsung Consortium (TSC), to supply offshore loading arm systems as part of the Shell Prelude Floating Liquefied Natural Gas (FLNG) Project. FMC’s scope of supply includes seven offshore footless marine loading arms, four for liquefied natural gas and three for liquefied petroleum gas. FMC’s Loading Systems business in Sens, France will design and manufacture the equipment. “Today’s announcement expands our existing support of the Prelude development, having received the subsea equipment contract in June of 2011,” said Robert Potter, FMC’s Executive Vice President, Energy Systems.

FMC Technologies, Inc. has announced that it has signed an agreement with Technip France, on behalf of the Technip Samsung Consortium (TSC), to supply offshore loading arm systems as part of the 'Shell Prelude' Floating Liquefied Natural Gas (FLNG) Project. FMC's scope of supply includes seven offshore footless marine loading arms, four for liquefied natural gas and three for liquefied petroleum gas. FMC's Loading Systems business in Sens, France will design and manufacture the equipment. FLNG opens up new business opportunities for countries looking to develop their gas resources, bringing more natural gas to market. Shell is the first to go ahead with such a project, Prelude FLNG.

Houston - FMC Technologies Inc. announced that it has signed a four-year agreement with Petrobras, Brazil’s national oil company, for the supply of pre-salt subsea equipment. The total award would result in approximately $1.5 billion in revenue to FMC Technologies if all of the subsea equipment included in the agreement is ordered. The initial call-off has an approximate value of $900 million in revenue to FMC and includes 78 subsea trees. FMC’s total scope of supply could include the delivery of up to 130 subsea trees, subsea multiplex controls and related tools and equipment. The tree systems are for use in offshore Brazil in water depths up to 8,200 feet (2,500 meters).

FMC Technologies Awarded Subsea Systems Contract from Anadarko Petroleum Corporation. FMC Technologies, Inc. announced that it has signed an agreement with Anadarko Petroleum Corporation (NYSE: APC) to provide subsea systems and life-of-field services for its Lucius project. The Lucius field is located approximately 275 miles southeast of Galveston in Keathley Canyon Block 875, in water depths of approximately 7,100 feet (2,160 meters). FMC’s scope of supply includes five subsea production trees and two manifolds. The equipment will be supplied from the Company’s operation in Houston and deliveries are expected to begin in the fourth quarter of 2012.

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's scope of supply includes three each of subsea production trees and water injection trees.

FMC Technologies (NYSE: FTI) announced today that it has received a $125 million order from Petrobras (NYSE: PBR, PBRA), Brazil's national oil company, to supply equipment for use in their oil and gas developments offshore Brazil. The order, for 32 subsea trees, represents the remaining equipment under a 107-tree frame agreement that was announced in February of 2010. Equipment deliveries are scheduled to begin in 2013. "We have been a key supplier to Petrobras for decades and have delivered over 300 subsea trees for their projects in Brazil…

FMC Technologies, Inc. (NYSE: FTI) announced it has signed an agreement with Total Exploration & Production Angola for the manufacture and supply of subsea production equipment for the CLOV development project. The award has a value of approximately $520m in revenue to FMC Technologies. FMC's scope of supply includes the manufacture of 36 subsea trees, wellheads and controls. The company will also supply eight manifolds, two workover systems and associated tooling and equipment. Deliveries are scheduled to commence in the first quarter of 2012. The deepwater CLOV development project consists of the Cravo, Lirio, Orquidea and Violeta discoveries, located in approximately 4,500 feet (1,370 meters) of water in Block 17 offshore Angola.

FMC Technologies, Inc. (NYSE: FTI) announced that it has signed a multi-year frame agreement with BG Norge, a subsidiary of BG Group, to provide subsea systems for offshore projects. The five-year contract includes provisions for two additional five-year extensions. The agreement also includes an immediate call-off to perform a detailed engineering study related to equipment and services to support the Jordbaer field, located in the Norwegian North Sea.

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…

FMC Technologies, Inc. (NYSE: FTI) announced that it has signed a subsea service contract with Petrobras (NYSE:PBR) (NYSE:PBRA) . The agreement is effective through 2012 and is expected to result in an additional $80m in revenue to FMC Technologies. FMC's scope of supply includes storage, maintenance, commissioning and offshore services for subsea and topside control systems and drill pipe riser systems. 10. International accountant and shipping consultant Moore Stephens has strengthened its shipping industry risk management services capability following a merger with AHL Business Assurance Limited, a specialist provider of governance, risk and internal audit services.

FMC Technologies, Inc. (NYSE: FTI) announced that it has been awarded a contract by Petrobras (NYSE: PBR) (NYSE:PBRA) to supply a subsea separation system for the Marlim field, located in the Campos Basin, offshore Brazil. The contract is valued at approximately $90m in revenue to FMC Technologies. FMC's scope of supply consists of a subsea separation and pumping system. The subsea separation module will separate heavy oil, gas, sand and water at a water depth of approximately 2,950 feet (900 meters). The system will apply FMC's separation and sand management technologies, utilizing a novel pipe separator design, licensed and developed in cooperation with StatoilHydro.

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. The HC-20 enables the development of high-pressure wells and its enhanced load bearing capacity, in excess of nine million pounds, allows operators to drill deeper wells with heavier casing strings. FMC's HC-20 subsea…

FMC Technologies, Inc. (NYSE: FTI) announced on Jan. 26 that it has signed a contract with 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. (www.fmctechnologies.com)