FMC Technologies, Inc. announced that it has signed an agreement which establishes a joint industry program that includes Anadarko Petroleum Corporation, BP, ConocoPhillips and Shell for the purpose of jointly developing a new generation of standardized subsea production equipment and systems designed to meet the challenges of producing oil and gas from deepwater reservoirs with pressures of up to 20,000 psi and temperatures of 350°F at the mudline. FMC Technologies brings four operators together to jointly develop subsea equipment and systems that will meet the technical challenges of high pressures and temperatures, and will serve to improve overall deepwater development through the standardization of materials, processes, and interfaces, as well as the enhancement of reliability and operability.

"This agreement is a clear illustration of how leading companies with a common interest can come together to overcome the technological and economic challenges facing our deepwater industry," said John Gremp, FMC Technologies' Chairman, President and Chief Executive Officer. "By working together collaboratively, we will continue to achieve technological innovations that will enable us to safely develop some of the world's most promising fields and take a large step toward providing new oil and natural gas resources to consumers and superior returns to stakeholders."

About FMC Technologies

FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry. Named by Forbes® Magazine as one of the World's Most Innovative Companies in 2013, the Company has approximately 19,500 employees and operates 30 production facilities in 17 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry.