Statoil orders subsea production equipment for Gullfaks South from FMC

Statoil (OSE:STL, NYSE:STO) has signed a $200-million contract with FMC Technologies (NYSE:FTI) for the supply of subsea production equipment for Gullfaks South.

Offshore staff

HOUSTON –Statoil (OSE:STL, NYSE:STO) has signed a $200-million contract with FMC Technologies (NYSE:FTI) for the supply of subsea production equipment for Gullfaks South.

FMC will supply seven subsea production trees, seven wellhead systems, two integrated protection structures with manifolds, and additional controls and equipment. The systems will be supplied from the company's operations in Norway and Scotland with deliveries scheduled to begin in 2Q 2013.

Gullfaks South will be developed as afasttrack project in blocks 34/10 and 33/12 in the North Sea, in water depths between 425 and 720 ft (130-220 m).

“Statoil has made significant technology investments for Gullfaks, which is Europe’s largest fixed-platform subsea tie-back development,” said Tore Halvorsen, FMC’s senior vice president, Subsea Technologies. “We are pleased to continue supporting their efforts to increase recovery and extend the life of this important field.”

7/05/2012

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