FMC Signs Contract to Supply Island Offshore a RLWI System

FMC Technologies has signed a three-year contract with Island Offshore Management AS to supply a Riserless Light Well Intervention (RLWI) system for use by BP in the UK North Sea. The contract, which has a value of approximately $25 million in revenue to FMC Technologies, also contains options for two, one-year extensions.

The contract includes a new RLWI system to be manufactured at FMC's facilities in Kongsberg, Norway and will be used by Island Offshore's new vessel, the Island Constructor. This will be FMC's third RLWI system. Expected commencement of the contract will be in the summer of 2008.

"RLWI is an important part of our subsea technology to service the growing population of subsea wells," said Tore Halvorsen, Senior Vice President, FMC Technologies. "We are pleased to support BP with our RLWI technology."