FMC Technologies bags $96m contract from ConocoPhillips

Houston-based global provider of technology solutions for the energy industry FMC Technologies, Inc. announced Tuesday that it has signed a three-year frame agreement with ConocoPhillips Indonesia Inc. Ltd for the manufacture and supply of subsea production equipment.

The contract includes an immediate US$57 million call-off and is expected to result in approximately $96 million in total revenue to FMC Technologies if all of the subsea equipment included in the agreement is ordered.

The equipment will support three of ConocoPhillips Indonesia's offshore fields, which are located in approximately 300 feet (90 meters) of water offshore Indonesia in the Natuna Sea. FMC's scope of supply includes the manufacture of up to 12 subsea production trees, wellheads, control systems and associated offshore tooling and services. The equipment will be engineered and manufactured at FMC's facilities in Indonesia, Singapore and Malaysia, with deliveries scheduled to commence in 2011. (alex)