FMC Wins West African Subsea Contract

FMC Energy Systems has been awarded a contract valued at approximately $100 million for subsea systems to be installed offshore Equatorial Guinea, Africa, by a subsidiary of ExxonMobil Corporation.

The subsea systems are for Mobil Equatorial Guinea, Inc.'s Zafiro Southern Expansion Area project, in water depths ranging from 1,411 to 2,625 feet (430 to 800 meters), offshore Equatorial Guinea. The contract calls for the supply of 19 subsea trees, five HOST(R) (hinge-over subsea template) and production manifold systems, a water injection manifold, topside and subsea control systems and related equipment and services.

Equipment deliveries and installation activities commenced in March 2002. Subsea systems for future delivery are expected to be produced at FMC Energy Systems' facilities in Houston, Texas, and Kongsberg, Norway.

"We are pleased to have the opportunity to supply the subsea systems for ExxonMobil's Zafiro expansion project," said Joseph H. Netherland, Chairman, President and Chief Executive Officer. "We have a longstanding, excellent working relationship with Mobil Equatorial Guinea, dating back to our supply of subsea systems for the original Zafiro project in 1995. This award reflects our proven ability to provide technologically advanced subsea solutions, as well as our experience in and commitment to offshore West Africa."