FMC Snags New Technology Award for Enhanced Vertical Deepwater Tree

FMC Technologies, Inc. was presented with a 2008 Spotlight on New Technology Award during a ceremony held at the 2008 Offshore Technology Conference (OTC) in Houston. The award, which honors companies that develop innovative technologies that significantly impact offshore exploration and production, recognized FMC Technologies' innovative Enhanced Vertical Deepwater Tree (EVDT).

The EVDT is considered a new global standard for vertical completion systems used in the development and production of subsea oil fields. The EVDT has a number of innovative features that provide versatility, installation savings, and operational efficiencies to the development of ultra-deepwater fields. For example, the EVDT allows ultra-deepwater completions to be performed from a small drilling rig that contains a surface blow out preventer (BOP), which results in cost avoidance by eliminating the need for expensive rigs during completion. This benefit alone can yield savings of up to $15 million per well for customers.

The EVDT also allows for flexibility in installing tubing hangers, permitting a customer to either use a tubing head or to simply land the tubing hanger directly into a wellhead without the need for a tubing head. This results in a more efficient installation when completion and drilling operations are conducted and does not require a customer to retrieve the subsea BOP and riser.

Another benefit of the EVDT is that a retrievable flow module and flow meter are incorporated into the design. This feature significantly reduces – from a matter of days to a matter of hours – the amount of production downtime a customer would experience during the performance of maintenance and meter replacement.

"We are very honored to receive such a prestigious award," said Peter Kinnear, President and Chief Executive Officer of FMC Technologies. "The EVDT system was developed by a multi-national team to global standards, and it represents the type of competitive advantages our people and our technologies can bring to our customers. The benefit to our customer base can be tremendous since our standards and operations allow for the EVDT system to be produced at every subsea FMC manufacturing facility throughout the world."