FMC Technologies Inc. (NYSE:FTI) has agreed to manufacture and supply subsea production equipment to Statoil ASA (NYSE:STO). The deal will fetch FMC Technologies approximately $70 million in revenue.
Statoil will utilize the equipment for the development of the Fram H-Nord field that is located at a water depth of approximately 1,200 feet in the Norwegian sector of the North Sea.
Per the agreement, FMC Technologies will deliver one subsea production tree, one manifold and one multiphase meter. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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