Untitled Document
Untitled Document

Statoil awards subsea equipment order to FMC Technologies

Energy industry technology solutions provider FMC Technologies Inc. was awarded a $33 million contract by Statoil for the supply of 10 production risers and tieback connectors for the Snorre field.

The project scope continues to increase as FTI has been the supplier of subsea equipment for over 20 years at this location.

"One more small award in the hopper before year-end and we expect a few more to hit as FTI comes in just below the midpoint of its order guidance for 2012. Unfortunately, the large awards are unlikely to come through to provide the big catalyst that we believe is needed to get the stock working again," noted Global Hunter Securities analysts following the announcement.  

 

Related Articles

Report predicts surge in world subsea expenditure

06/05/2014

Global subsea hardware capex could total $117 billion between 2014 and 2018, according to Douglas-Westwood’s latest market forecast.

Baker Hughes and Aker Solutions form subsea production alliance

04/22/2014 Baker Hughes Inc. and Aker Solutions ASA have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates, and reduce costs for subsea ...

Trendsetter promotes Downing to president

04/21/2014

Trendsetter Engineering Inc. has promoted Ron Downing to the position of president.  Downing assumes this responsibility from Mario Lugo who remains chairman and CEO.

FMC Technologies awarded contract for BP's Shah Deniz Stage 2 project

04/15/2014

FMC Technologies Inc. has received an order from BP to supply subsea systems for its Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $322 million in revenue.

Shell postpones Norwegian subsea gas project

04/14/2014 Shell is postponing a project to provide subsea compression at the North Sea's Ormen Lange, the second-biggest Norwegian gas field, despite objections of a key license partner, according to a Reute...

More Oil & Gas Financial Articles

Report predicts surge in world subsea expenditure

Thu, Jun 5, 2014

Global subsea hardware capex could total $117 billion between 2014 and 2018, according to Douglas-Westwood’s latest market forecast.

Baker Hughes and Aker Solutions form subsea production alliance

Tue, Apr 22, 2014

Baker Hughes Inc. and Aker Solutions ASA have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates, and reduce costs for subsea fields.

Trendsetter promotes Downing to president

Mon, Apr 21, 2014

Trendsetter Engineering Inc. has promoted Ron Downing to the position of president.  Downing assumes this responsibility from Mario Lugo who remains chairman and CEO.

FMC Technologies awarded contract for BP's Shah Deniz Stage 2 project

Tue, Apr 15, 2014

FMC Technologies Inc. has received an order from BP to supply subsea systems for its Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $322 million in revenue.

Shell postpones Norwegian subsea gas project

Mon, Apr 14, 2014

Shell is postponing a project to provide subsea compression at the North Sea's Ormen Lange, the second-biggest Norwegian gas field, despite objections of a key license partner, according to a Reuters report.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ