FMC Inks $45MM Deal with StatoilHydro for Subsea Equipment

FMC Technologies, Inc. signed a contract with StatoilHydro for the manufacture and supply of subsea equipment to support oil and gas production at StatoilHydro’s Asgard development, located in the Norwegian Sea. The contract is valued at approximately $45 million in revenue.

FMC’s scope of supply includes four horizontal subsea trees, wellhead systems and extended tubing hangers as well as flow control modules, multi-phase flow meters and permanent guide bases. The equipment will be manufactured at FMC’s Kongsberg, Norway and Dunfermline, Scotland operations with deliveries expected to commence this summer.

“We have manufactured more than 50 trees that have been deployed at the Asgard field and are also in the process of supplying subsea gas compression control systems for the Asgard development,” said Tore Halvorsen, FMC’s Senior Vice President of Global Subsea Production Systems. “Today’s announcement strengthens our existing relationship with StatoilHydro and we welcome the opportunity to supply additional equipment for this project.”