FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from BP to supply subsea systems for its Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $322 million in revenue.
FMC Technologies' scope of supply includes subsea manifolds, associated controls and connection equipment as well as key controls and connection components for subsea production trees. The Shah Deniz field is located in the Azerbaijan sector of the Caspian Sea, 43 miles (70 kilometers) southeast of Baku.
"This award culminates three years of pre-engineering work between FMC Technologies and BP on this project," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This close cooperation will accelerate the transition to the manufacturing stage and enable reduced lead time delivering the project."