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FMC Technologies Awarded $36 Million Contract From Pemex
Oct 21, 2011 (04:10 PM EDT)
HOUSTON, Oct. 21, 2011 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a three-year contract with Pemex Exploration and Production for the manufacture and supply of surface wellheads to support its drilling and well maintenance programs in the Gulf of Mexico. The award is expected to result in approximately $36 million in revenue to FMC Technologies if all of the equipment included in the contract is ordered. The agreement provides assurance that at least 40 percent of the contractual value will be ordered by Pemex during the three-year call-off period.
FMC's scope of supply includes approximately 150 surface wellheads, installation and supervision services for Pemex's operations in its Northeast and Southwest Marine Regions of the Gulf of Mexico. The equipment will be supplied from FMC's operation in Mexico. Deliveries will begin during the fourth quarter of 2011.
"We appreciate the opportunity to extend our support of Pemex," said Johan Pfeiffer, FMC's Vice President, Global Surface Wellhead. "FMC's subsea systems have played a significant role in their Cantarell development for several years, and today's announcement expands that relationship to other fields with our reliable surface wellhead systems and support services."
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 2010, the Company has approximately 12,500 employees and operates 27 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. 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, 2010, 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.
SOURCE FMC Technologies, Inc.