FMC Technologies, Inc. announced that it 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.

FMC Technologies' scope of supply includes subsea manifolds, associated controls and connection equipment as well as key controls and connection components for subsea production trees. The Shah Deniz field is located in the Azerbaijan sector of the Caspian Sea, 43 miles (70 kilometers) southeast of Baku.

"This award culminates three years of pre-engineering work between FMC Technologies and BP on this project," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This close cooperation will accelerate the transition to the manufacturing stage and enable reduced lead time delivering the project."

About Shah Deniz

The Shah Deniz co-venturers are (after acquisitions): BP, operator (28.8 per cent), SOCAR (16.7 per cent), Statoil (15.5 per cent), Total (10 per cent), Lukoil (10 per cent), NICO (10 per cent) and TPAO (9 per cent).

These percentages include the above-described purchases of equity from Statoil by BP and SOCAR, respectively, which are subject to conditions that are expected to be satisfied in 2014 for completion of the transactions.

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 19,300 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.

About BP

BP is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.