FMC Technologies to Provide Subsea Systems for Tyrihans Project

FMC Technologies has signed a contract with Statoil to provide subsea systems for the Tyrihans project in the North Sea. The value of this contract is approximately $216 million in revenue.

This contract covers the supply of 13 subsea trees, 5 template structures with manifolds, a topside control system and work-over systems. First deliveries are scheduled for April, 2007, with final deliveries scheduled for November, 2008

The Tyrihans oil and gas field is located about 25 miles (40 km) south of Asgard in roughly 935 feet (285 meters) of water. The field will be tied back to the Kristin platform where the gas and oil will be processed.

"This contract for the Tyrihans project reflects our extensive experience as a subsea solutions provider in the North Sea, as well as the strength of our global alliance with Statoil," said Peter D. Kinnear, Executive Vice President, FMC Technologies. "We are pleased to be chosen by Statoil to provide the subsea systems for this project and to help them solve the ongoing challenges in the North Sea."