FMC Technologies Inks Agreement with Statoil

FMC Technologies has signed an agreement with Statoil for the manufacture and supply of subsea workover adapters. The award has a value of approximately $43 million in revenue to FMC Technologies.

FMC's scope of supply includes eight workover adapters for horizontal subsea production trees, five adapters for drill pipe landing strings as well as topside controls. The equipment will be manufactured at FMC's facility in Kongsberg, Norway. Deliveries will commence in the second quarter of 2012.

"This equipment will support workover operations at four fast-track fields in the North Sea," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "It provides added flexibility and brings standardization to Statoil's workover system portfolio."