Two Statoil Deals Worth $120 Million to FMC Technologies

$50-million subsea equipment order follows $70-million contract for workover system

Houston-based FMC Technologies Inc. has entered into two multi-million-dollar work orders from Norwegian oil-and-gas giant Statoil ASA. The first contract, announced June 1, involves manufacturing and supplying of a $70-million workover system to be placed in the Statfjord field. It will be the first standardized workover system supplied to Statoil by FMC.

FMC designs and manufacturers a range of systems for offshore oil and gas exploration, including subsea production and processing systems; surface wellhead systems; fluid control equipment; measurement equipment; and marine loading systems.

Statfjord is one of the oldest-producing fields on the Norwegian continental shelf, and one of the largest oil discoveries in the North Sea. The workover system will be used by Statoil to perform intervention projects on subsea wells in order to increase performance and enhance oil recovery.

Statoil is the state-owned integrated energy company that is the thirteenth-largest oil-and-gas producer in the world, and the largest operator of rigs on the Norwegian continental shelf. It produces 60% of the total output there.

"This workover system is designed to support Statoil's rig scheduling program and its standardized subsea equipment," stated FMC senior vice president Tore Halvorsen. "As a result, rig time can be more efficiently allocated, reducing costs and enhancing productivity."

In the second contract, worth $50 million, FMC will manufacture and supply subsea production equipment for Statoil’s Visund Nord development. Visund Nord is a fast-track oil and gas field at a depth of approximately 1,150 ft beneath the Norwegian North Sea.

Specifically, FMC will supply two subsea production trees, one manifold, and associated subsea and topside control systems. The integrated structure and wellhead systems will be based on a standard subsea design FMC developed for Statoil, and it will be delivered in the spring of 2012. Final deliveries will occur in the first quarter of 2013.

"Visund Nord is the fifth fast-track project we have been awarded from Statoil in the last two years," Halvorsen stated. "We are pleased that Statoil continues to recognize our strengths and capabilities in supporting their tie-back and fast-track developments."

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