FMC to provide subsea equipment to Statoil's Katla development in the Norwegian North Sea

Source: FMC

FMC Technologies, Inc. (NYSE: FTI) signed an agreement with Statoil (NYSE: STO) for the manufacture and supply of subsea production equipment to support the Katla development. The award has a value of approximately $75 million in revenue to FMC Technologies. 

Katla is a fast-track offshore oil and gas field located in water depths of approximately 310 feet (95 meters) in the Norwegian sector of the North Sea. It is one of three additional options included in the previously announced Pan Pandora project awarded to FMC Technologies in June. As with Pan Pandora, all equipment for Katla will be based on a standard subsea solution designed by FMC for Statoil. 

FMC's scope of supply for Katla includes the manufacture of three subsea trees, one manifold and associated subsea and topside control systems. The equipment will be manufactured and assembled at FMC's facilities in Dunfermline, Scotland and Kongsberg, Norway. Deliveries are scheduled to commence in the second quarter of 2011. 

"Statoil's fast-track strategy aims to reduce the time from discovery to production," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs