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."