FMC Technologies awarded subsea systems contract for Shah Deniz Stage 2

FMC Technologies Inc. (NYSE: FTI) has received an order from BP Exploration (Shah Deniz) Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea.

The order has an estimated value of $297 million in revenue and is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP, the operator of the Shah Deniz Stage 2 project. The Shah Deniz field is located offshore in the Azerbaijan sector of the Caspian Sea, approximately 100 kilometers south of Baku.

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