ConocoPhillips Awards FMC Technologies $96 Million Subsea Equipment Frame Agreement
2011.02.16 -
Contracts
FMC Technologies, Inc. (NYSE: FTI) announced today 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
$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.
"This award represents our first project with ConocoPhillips in Indonesia," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "It is a significant achievement for our Asia-Pacific facilities, and we are pleased to support ConocoPhillips Indonesia with this development."
Cameron (NYSE: CAM) has signed a three-year worldwide preferred supplier agreement with Schlumberger Integrated Project Management (IPM) for the supply of a wide range of flow equipment products and services. As part of the agreement, Cameron will provide Schlumberger IPM with all surface, subsea, drilling, measurement, compression and downstream equipment on a worldwide basis.
ClampOn has been awarded a contract for delivery of five subsea ClampOn DSP Leak Monitors to the Tampen Link project in the Norwegian sector in the North Sea (Sept 07). ClampOn will supply its ultrasonic non-intrusive acoustic Leak Monitors to Technip Norge AS on behalf of Statoil. The Leak Monitors will be retrofitted on two 20” gas valves on the seabed to verify/disprove through-valve gas leakage. These valves are currently open and they will be shut to close off the bypass alternative.
Helix Energy Solutions (NYSE: HLX) announced today that it has received a Letter of Intent ("LOI") for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia. Participants in the VIC/P44 permit are Santos Limited (Operator) 50%, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25% and Mitsui E&P Australia Pty Ltd. 25%.
Velosi Limited Velosi or the Group, a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year.
Fugro has been awarded a contract to perform a detailed marine survey in the Mediterranean Sea to select the best route for the GALSI gas pipeline from Algeria to Southern Sardinia and then from Northern Sardinia to the mainland of Italy. The contract value is approximately EUR 18 million.
