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FMC Technologies to Supply Subsea Systems for Gumusut-Kakap Project Offshore Malaysia
HOUSTON-(Business Wire)-January 31, 2008 - FMC Technologies, Inc. (NYSE:FTI) announced today that it has been awarded a contract by Sabah Shell Petroleum Company Limited for the supply of deepwater subsea systems for the Gumusut-Kakap project.
The Gumusut-Kakap project is located offshore East Malaysia, Sabah, Blocks J & K, in water depths of approximately 4,000 feet (1,250 meters). The scope of supply for phase one of the project includes 15 subsea trees, five manifolds, subsea drilling systems, control systems, flowline connections and related subsea equipment and life-of-field support. Deliveries are expected to commence in late 2008.
The Gumusut-Kakap project becomes the first Malaysian subsea project to be engineered and manufactured at FMC Technologies' facilities in Kuala Lumpur and Nusajaya, Malaysia. Constructed in 2006, both of these facilities were designed to establish local manufacturing and service capabilities. As part of its technology transfer commitment and Malaysian license agreement, FMC will utilize its deepwater technology, project management and manufacturing processes that have been implemented at the company's Malaysian facilities during the past two years.
"We are pleased to be a part of the Gumusut-Kakap project," said John Gremp, executive vice president of FMC Technologies. "We have longstanding relationships throughout the region and we look forward to leveraging our local operations to support this project."
FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company 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. The Company also produces food processing equipment for the food industry and specialized equipment to service the aviation industry. Twice named as the Most Admired Oil and Gas, Equipment Service Company by FORTUNE magazine, FMC Technologies employs approximately 12,000 people and operates 33 manufacturing facilities in 19 countries. For more information visit www.fmctechnologies.com.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. These risks and uncertainties are described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2006 and may be modified in subsequent quarterly reports filed by the Company with the Securities and Exchange Commission that may be accessed on the Company's website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
