FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a long term frame agreement with Wintershall Norge AS to supply subsea production systems for its developments offshore Norway. The first call-off under the frame agreement, covering subsea equipment for Wintershall's Maria field, has been awarded. This initial call-off has an estimated value of $280 million in revenue.
The frame agreement expands FMC Technologies' already established relationship providing surface and shallow water equipment to Wintershall to include support for its subsea developments.
"FMC Technologies is pleased to announce this expanded relationship with Wintershall to provide subsea production systems and to supply the equipment for its Maria field," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This frame agreement will enable us to implement standardized solutions that will form the basis for Wintershall's future subsea developments."