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 $64 million in revenue to FMC Technologies if all of the equipment 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 Technologies' scope of supply includes surface wellheads and production trees, as well as installation and supervision services for Pemex's operations in its Southwest Marine Region of the Gulf of Mexico. The equipment will be supplied from FMC Technologies' operations in Mexico.
"We appreciate the opportunity to extend our support of Pemex," said Johan Pfeiffer, FMC Technologies' Vice President, Surface Technologies. "FMC Technologies has historically played a significant role in Pemex's developments, and this new award expands that relationship."