FMC Technologies awarded $297 million subsea production system contract

Source:FMC Technologies, Inc.

The order is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP.

FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from BP Exploration (Shah Deniz) Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $297 million in revenue and is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP, the operator of the Shah Deniz Stage 2 project. The Shah Deniz field is located offshore in the Azerbaijan sector of the Caspian Sea, approximately 100km south of Baku.

"This award continues our multi-year support for BP on this project," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "Our close cooperation on this project has accelerated the transition to the manufacturing stage and enabled us to reduce the lead time delivering the project."

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