FMC, operators to develop next-gen subsea equipment

FMC Technologies Inc. (NYSE: FTI) has signed an agreement that establishes a joint industry program (JIP) with Anadarko Petroleum Corp., BP, ConocoPhillips, and Shell to develop a new generation of standardized subsea production equipment and system,

Jul 23rd, 2014

Offshore staff

HOUSTON – FMC Technologies Inc. (NYSE: FTI) has signed an agreement that establishes a joint industry program (JIP) with Anadarko Petroleum Corp., BP, ConocoPhillips, and Shell to develop a new generation of standardized subsea production equipment and systems to meet the challenges of producing oil and gas from deepwater reservoirs with pressures of up to 20,000 psi and temperatures of 350°F (177°C) at the mudline.

The JIP will also address the standardization of materials, processes, and interfaces, as well as the enhancement of reliability and operability.

“This agreement is a clear illustration of how leading companies with a common interest can come together to overcome the technological and economic challenges facing our deepwater industry,” said John Gremp, FMC Technologies' chairman, president, and CEO. “By working together collaboratively, we will continue to achieve technological innovations that will enable us to safely develop some of the world's most promising fields, and to take a large step toward providing new oil and natural gas resources to consumers and superior returns to stakeholders.”

07/22/2014

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