FMC Technologies, Inc. announced that it has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Fram H-Nord development. The contract has a value of approximately $70 million in revenue to FMC.

FMC's scope of supply includes one subsea production tree, one manifold and one multiphase meter. The Company will also supply an integrated template structure, one umbilical, two wellheads and additional controls and equipment. The Fram H-Nord field is located in the Norwegian sector of the North Sea in water depths of approximately 1,200 feet (360 meters). The equipment will be based on the standard fast-track subsea solution designed by FMC for Statoil. Deliveries are expected to occur throughout 2013.

"Fram H-Nord is the sixth fast-track project that we have been awarded from Statoil in the past two years," said Tore Halvorsen, FMC's Senior Vice President, Subsea Technologies. "We are pleased that Statoil continues to rely upon our experience and systems to support these projects and to increase oil recovery."