FMC Technologies Wins More Work for Greater Plutonio Project

FMC Technologies' unit, FMC Kongsberg Subsea AS, has signed additional contracts related to the supply of subsea systems and related services for the BP-operated Greater Plutonio Project in Block 18, offshore Angola.

The value of these additional contracts, which cover installation services and local Angolan supply, is approximately $80 million in revenue, bringing the total current project value to approximately $350 million in revenue. An initial contract for this project, valued at approximately $270 million in revenue, was announced in June 2004.

FMC Technologies' scope of supply for the entire Greater Plutonio project is expected to include 45 subsea trees and associated structures, manifolds and production control systems, as well as connection systems for flowlines and umbilicals. FMC Technologies also will supply technical services related to installation and startup. The supply of equipment and services will be supported by FMC Kongsberg Subsea's operations in Angola. Deliveries will be completed over a multi-year period and are scheduled to commence in early 2005.