FMC Technologies Earns Spotlight on New Technology Award for Its Enhanced Vertical...

Mon May 5, 2008 8:58pm EDT
 
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FMC Technologies Earns Spotlight on New Technology Award for Its Enhanced Vertical Deepwater Tree

HOUSTON--(Business Wire)--
FMC Technologies, Inc. (NYSE:FTI) was presented with a 2008
Spotlight on New Technology Award during a ceremony held today at the
2008 Offshore Technology Conference (OTC) in Houston. The award, which
honors companies that develop innovative technologies that
significantly impact offshore exploration and production, recognized
FMC Technologies' innovative Enhanced Vertical Deepwater Tree (EVDT).

   The EVDT is considered a new global standard for vertical
completion systems used in the development and production of subsea
oil fields. The EVDT has a number of innovative features that provide
versatility, installation savings, and operational efficiencies to the
development of ultra-deepwater fields. For example, the EVDT allows
ultra-deepwater completions to be performed from a small drilling rig
that contains a surface blow out preventer (BOP), which results in
cost avoidance by eliminating the need for expensive rigs during
completion. This benefit alone can yield savings of up to $15 million
per well for customers.

   The EVDT also allows for flexibility in installing tubing hangers,
permitting a customer to either use a tubing head or to simply land
the tubing hanger directly into a wellhead without the need for a
tubing head. This results in a more efficient installation when
completion and drilling operations are conducted and does not require
a customer to retrieve the subsea BOP and riser.

   Another benefit of the EVDT is that a retrievable flow module and
flow meter are incorporated into the design. This feature
significantly reduces -- from a matter of days to a matter of hours --
the amount of production downtime a customer would experience during
the performance of maintenance and meter replacement.

   "We are very honored to receive such a prestigious award," said
Peter Kinnear, President and Chief Executive Officer of FMC
Technologies. "The EVDT system was developed by a multi-national team
to global standards, and it represents the type of competitive
advantages our people and our technologies can bring to our customers.
The benefit to our customer base can be tremendous since our standards
and operations allow for the EVDT system to be produced at every
subsea FMC manufacturing facility throughout the world."

   The 2008 Offshore Technology Conference will be held from May 5
through May 8 at the Reliant Center in Houston. The OTC is the premier
offshore industry event for professionals, service industries and
suppliers to gather and discuss common issues of ocean resource
development as well as technological innovations and forums on
economic, social, and political aspects of resource development and
environmental protection.

   FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of
technology solutions for the energy industry and other industrial
markets. The Company 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. The Company also
produces food processing equipment for the food industry and
specialized equipment to service the aviation industry. Named by
FORTUNE Magazine as America's Most Admired Oil and Gas Equipment,
Service Company in 2005, 2006 and 2008, FMC Technologies employs
approximately 13,000 people and operates 33 manufacturing facilities
in 19 countries. For more information visit www.fmctechnologies.com.

   This release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are information of a non-historical nature and are subject
to risks and uncertainties that are beyond the Company's ability to
control. These risks and uncertainties are described under the caption
"Risk Factors" in the Company's Annual Report on Form 10-K for the
year ended December 31, 2007 and may be modified in subsequent
quarterly reports filed by the Company with the Securities and
Exchange Commission that may be accessed on the Company's website. The
Company cautions shareholders and prospective investors that actual
results may differ materially from those indicated by the
forward-looking statements.

FMC Technologies, Inc.
Rob Cherry, 281-591-4560 (Investors)
Ellen Bates, 281-445-6559 (Media)

Copyright Business Wire 2008

 

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