HOUSTON, Dec. 13, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with PT Rajawali Swiber Cakrawala (PTRSC) for the manufacture and supply of subsea controls for the South Belut field development. The order has an estimated value of $40 million in revenue.
The field is located in the South Natuna Sea Block B PSC and in water depths of approximately 334 feet (102 meters). This order provides for the supply of a topside and subsea distribution control system and is an extension of the EPC contract with ConocoPhillips. The equipment is scheduled for delivery beginning in the second quarter of 2013 and will be supplied from FMC Technologies' facilities in Malaysia and Norway.
"This contract award for the South Belut field contains the latest in subsea controls technologies," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "These solutions help ensure fast and efficient communication and control of subsea assets and will allow for scalability and upgradeability over the life of the field."
FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World's Most Admired Oil and Gas Equipment, Service Company in 2012, the Company has approximately 16,800 employees and operates 30 production facilities in 16 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. For more information, visit www.fmctechnologies.com.
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The word "estimated" and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully manufacture and deliver, and PTRSC's acceptance of, the subsea systems ordered. For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2011, as well as its other filings with the Securities and Exchange Commission. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
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SOURCE FMC Technologies, Inc.
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