These cost increases are the result of higher onshore construction costs, delays in customer approvals and higher commissioning costs. The estimates of total project costs contained in this release are management's best current estimates. Additional costs may be incurred as the project advances toward completion.
"We are making significant progress toward final commissioning of the Sonatrach project, and we expect it to be substantially complete by the end of the third quarter. However, we may experience additional project delays and associated cost increases on this project," said Peter D. Kinnear, Executive Vice President - FMC Technologies.
Including the impact of the Sonatrach project cost increase, the Company expects to report a strong second quarter due to strong oilfield market activity.
FMC Technologies will report second quarter 2005 earnings after market close on August 3, 2005.
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