FMC to Supply Subsea Systems for Agbami Project

FMC Technologies has been chosen to supply subsea systems for the ChevronTexaco-operated Agbami project, offshore Nigeria. The contract with Star Deep Water Petroleum Limited, an affiliate of ChevronTexaco Corporation has a value of approximately $276 million in revenue to FMC Technologies.

FMC Technologies' scope of supply for the Agbami project includes 22 subsea trees and associated structures, manifolds and production control systems. FMC Technologies plans to construct facilities in Nigeria to support local supply of equipment. Deliveries will be completed over a multi-year period and are scheduled to commence in the third quarter of 2006.

"Our supply of subsea systems for the Agbami project will involve local content, local employment opportunities and a technical training program," said Peter D. Kinnear, Executive Vice President -- FMC Technologies. "We appreciate the opportunity afforded us by ChevronTexaco and the Nigerian National Petroleum Corporation (NNPC) to provide technologically advanced subsea systems for this important project. We believe our investment in Nigerian facilities also will enhance our ability to serve the growing Nigerian market."

The Agbami Field covers approximately 45,000 acres across OMLs 127 and 128, in water depths of approximately 4,200 to 5,400 feet (1,280 to 1,646 meters). The field is approximately 70 miles (112 km) offshore Nigeria, in the central Niger Delta Area. The Agbami Field is operated by Star Deep Water Petroleum Limited on behalf of its partners, NNPC, Famfa Oil Limited, Statoil Nigeria Limited, Petroleo Brasileiro Nigeria Limited and Texaco Nigeria Outer Shelf Inc. (a ChevronTexaco affiliate).


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