FMC Technologies Lands Subsea Contract for Statoil's Visund Nord Field

FMC Technologies has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Visund Nord offshore development. The contract has a value of approximately $50 million in revenue to FMC Technologies.

Visund Nord is a fast-track oil and gas field located in water depths of approximately 1,150 feet (380 meters) in the Norwegian sector of the North Sea. FMC's scope of supply includes the manufacture of two subsea production trees, one manifold and associated subsea and topside control systems. The equipment will be based on a standard subsea solution designed by FMC for Statoil. The integrated structure and wellhead systems will be delivered in the spring of 2012 and final deliveries will occur in the first quarter of 2013.

"Visund Nord is the fifth fast-track project we have been awarded from Statoil in the last two years," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "We are pleased that Statoil continues to recognize our strengths and capabilities in supporting their tie-back and fast-track developments."