FMC to Provide Subsea Systems for Norne Field Satellites

FMC Technologies has signed an agreement with Statoil to supply subsea production systems for Statoil's Norne Satellites (Staer and Svale) project in Production License 128 in the North Sea. The contract value is approximately $79 million in revenues.

The agreement includes eight subsea trees, manifolds, production controls and associated systems. An additional contract will include technical services related to installation and startup. The Norne satellites will be tied back to Statoil's Norne production vessel, and oil production is anticipated to begin by late 2005.

Production began from the Norne field in 1997. The field is located approximately 125 miles off the Norwegian coast in approximately 1,250 feet of water. The two satellite fields are due to produce about 70,000 barrels of oil per day with a planned production start in the autumn of 2005.

"We are pleased to be chosen by Statoil to supply the subsea systems for the Norne satellites project," said Peter D. Kinnear, Executive Vice President -- FMC Technologies. "This reflects our extensive experience as a subsea solutions provider in the North Sea as well as the strength of our relationship with Statoil."