FMC Technologies has signed an agreement with Statoil for the manufacture and supply of a workover system to support the Statfjord field. The award has a value of approximately $70 million in revenue to FMC Technologies.

Statfjord is one of the oldest producing fields on the Norwegian continental shelf and one of the largest oil discoveries in the North Sea. Statoil will use the workover system to perform intervention activities on their subsea wells in order to increase performance and enhance oil recovery. It will be the first standardized workover system supplied to Statoil by FMC.

"This workover system is designed to support Statoil's rig scheduling program and its standardized subsea equipment," said Tore Halvorsen, FMC's Senior Vice President of Global Subsea Production Systems. "As a result, rig time can be more efficiently allocated, reducing costs and enhancing productivity."

Tags: FMC Technologies