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Oil & Gas

FMC signs $120M contract with ConocoPhillips unit

July 02, 2008
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The Associated Press is reporting that FMC Technologies Inc. said recently it signed a deal worth $120 million to supply underwater oil and gas production equipment to ConocoPhillips Scandinavia AS.

Under the terms of the five-year contract, FMC will provide equipment to inject water into the Ekofisk field below the North Sea off the Norwegian coast. The agreement includes an option for additional equipment and the possibility for significantly more work in the future.

The equipment will be made in Kongsberg, Norway, and Dunfermline, Scotland. Delivery is set to begin early next year.
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