FMC sign extension frame deal for subsea Xtree systems with Woodside
FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a five-year extension to its existing five-year frame agreement with Woodside Energy Limited in Australia. Under the agreement, FMC Technologies will provide subsea tree systems for the next five years, and associated aftermarket services for the next six years, with options to extend the agreement to ten years.
“Woodside has been a major customer of FMC’s for the last fifteen years and a frame agreement partner since 2003,” said Tore Halvorsen, Senior Vice President of Global Subsea Production Systems at FMC Technologies. “Under the prior frame agreement, we manufactured and supplied more than 65 subsea tree systems to support their developments and we are excited about the opportunity to continue to provide our subsea technology and offshore support services.”
Mr. Halvorsen added that Woodside is the largest liquid natural gas (LNG) operator in Australia and has an expanding portfolio of potential offshore projects, including expansion of its $12 billion Pluto LNG project, as well as its Browse and Sunrise developments.
“Woodside plans to be a leading, global supplier of LNG by 2015. This agreement, which is expected to position FMC to supply more than 80 subsea tree systems, will support their efforts while enhancing FMC’s local capabilities in Australia.”