Statoil, FMC sign new agreement

Statoil ASA has signed a new five-year frame agreement with FMC Technologies Inc. for subsea equipment and services in the North Sea and also possible international developments.

Offshore staff

HOUSTON –Statoil ASA has signed a new five-year frame agreement with FMC Technologies Inc. for subsea equipment and services in the North Sea and also possible international developments.

The agreement includes two two-year extension options and the value is estimated by Statoil to be between $2.6 and $4.4 billion. The equipment and services will be from FMC's Kongsberg, Norway, facility.

"This frame agreement is another demonstration of Statoil's commitment to future subsea developments and their continued confidence in FMC to supply quality products on time," said Tore Halvorsen, senior vice president, FMC Technologies. "We are excited to once again work together to develop the technologies necessary to take on new subsea opportunities."

09/19/2007

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