FMC Technologies
NYSE : FTI

FMC Technologies

November 10, 2005 08:00 ET

FMC Technologies to Provide Subsea Separation and Boosting System for Statoil's Tordis Field

HOUSTON--(CCNMatthews - Nov 10, 2005) -

FMC Technologies (NYSE:FTI) announced today that it has signed an agreement with Statoil to provide the Subsea Separation Boosting and Injection system for the Tordis field in the North Sea. The value of this contract is approximately $100 million.

The contract includes a Subsea Separation Boosting and Injection system incorporating a retrievable separation module, manifold module, desander system, multiphase and water injection pumps and a water injection tree. Along with the control systems and topside equipment, umbilicals and related equipment are also included.

"We appreciate the opportunity to work with Statoil on this pioneering project. FMC Technologies subsea systems expertise combined with the separation systems technology we gained through our acquisition of CDS Engineering in 2003 will enable us to meet the challenges of Statoil's Tordis project," said Peter D. Kinnear, Executive Vice President - FMC Technologies. "We believe there is tremendous potential for this technology. Statoil states that by utilizing this technology they will be able increase recovery from the Tordis field by approximately 19 million barrels of oil."

First deliveries are expected to begin in the summer of 2006, with the major part of the system to be delivered late spring 2007.

For more information on the Tordis project and the Subsea Separation Boosting and Injection system to be employed, please visit www.fmctechnologies.com/tordis.

FMC Technologies, Inc. (www.fmctechnologies.com) is a global leader providing mission-critical technology solutions for the energy, food processing and air transportation industries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products for its customers through its Energy Systems (comprising Energy Production Systems and Energy Processing Systems), FoodTech and Airport Systems businesses. FMC Technologies employs approximately 9,000 people and operates 31 manufacturing facilities in 16 countries.

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Company's filings with the Securities and Exchange Commission, including the risks and uncertainties described in the Cautionary Note Regarding Forward-Looking Statements in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2005. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.

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