FMC Technologies to Supply Subsea Systems for Gjoa

FMC Technologies has signed a contract with Statoil to supply subsea systems for the Gjoa project, offshore Norway. The value of this contract is approximately $210 million in revenue.

This contract covers the supply of 14 subsea trees, 5 template structures with manifolds, a topside control system and work-over systems. The subsea system will be engineered and manufactured at FMC Technologies' facility in Kongsberg, Norway. First deliveries are scheduled for July 2008.

"FMC Technologies' long-term alliance combined with the experience gained through previous Statoil projects, such as the ongoing Tyrihans project, should contribute to the execution of the Gjoa project," said Peter D. Kinnear, President, FMC Technologies. "New technological solutions developed for the Tyrihans project will benefit Statoil as they move forward with the Gjoa project in the North Sea."

Gjoa is an oil and condensate (light oil) field located in blocks 35/9 and 36/7, 130 kilometers northwest of Bergen, Norway at a water depth of 380 meters. Final contract award depends on Statoil and its partners submitting plans for both development and operation (PDO) and installation and operation (PIO) and official approval of these by Norwegian governmental authorities.

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