FMC Technologies receives $114 million subsea equipment order for LLOG Exploration's Delta House project

Monday, Jan 07, 2013

HOUSTON, Jan. 3, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has received a subsea equipment order from LLOG Exploration Company, LLC (LLOG Exploration) for their Delta House project. The order has an estimated value of $114 million in revenue.

The project is located in the Gulf of Mexico Mississippi Canyon area in water depths of approximately 5000 feet (1524 meters). FMC Technologies' scope of supply includes nine subsea trees, four subsea manifolds, five multiphase meters and associated topside control systems and subsea distribution systems. The equipment is scheduled for delivery in 2013.

"FMC Technologies is pleased to provide LLOG Exploration subsea systems for their recent Mississippi Canyon developments," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "We welcome the opportunity to provide them with the subsea technology to meet their needs."

"LLOG Exploration's strategic alliance with FMC Technologies has been critical to LLOG Exploration's success," said Scott Gutterman, LLOG Exploration's President and CEO. Gutterman added, "We are pleased that FMC Technologies will provide the subsea equipment for this important project."

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 LLOG Exploration'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.

SOURCE FMC Technologies, Inc.