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February 09, 2016 4:01 PM ET

Energy Equipment and Services

Company Overview of FMC Kongsberg Subsea AS

Company Overview

FMC Kongsberg Subsea AS engages in designing and engineering subsea and metering systems primarily in Norway. The company offers Hinge-Over Subsea Template for Statoil, Norway's state-owned oil company, for use in oil fields in the North Sea. It also provides turnkey subsea systems, including systems integration, project management, and FMC subsea products. As of December 31, 2000, FMC Kongsberg Subsea AS operates as a subsidiary of FMC Technologies, Inc.

Kirkegårdsveien 45

Kongsberg,  3616

Norway

Phone:

47 32 28 67 00

Fax:

47 32 28 67 50

Key Executives for FMC Kongsberg Subsea AS

Compensation as of Fiscal Year 2015.

FMC Kongsberg Subsea AS Key Developments

FMC Kongsberg Subsea AS Wins NOK 1.3 Billion EPC Contract from Statoil

Statoil has awarded an EPC contract for subsea equipment for the Johan Sverdrup project to FMC Kongsberg Subsea AS. The contract involves establishment of a new and cost efficient standard for subsea equipment. The contract has an estimated value of NOK 1.3 billion, and includes deliveries of 13 Subsea trees and well heads, in addition to three subsea templates and control systems. In the first phase of the Johan Sverdrup development, three standard templates will be installed north and south of the field centre, on water depths of 110 to 120 meters. The subsea templates will be controlled and supplied with produced water or seawater through pipelines from the field centre. The award is based on a new standard vertical Subsea tree, which has been developed in cooperation with the supplier market and DNV. This new standard will help increase cost efficiency for future subsea developments. Statoil and FMC Technologies have in parallel negotiated a contractual framework which will form the basis for future tender processes for subsea projects, operational services and studies.

Shah Deniz Consortium Awards Contract Worth $297 Million for Stage 2 of the Project to FMC Kongsberg Subsea as

FMC Kongsberg Subsea AS will deliver $297 million in subsea production system hardware, including equipment for production clusters 3, 4 and 5 consisting of subsea manifolds, associated controls and connection equipment for Shah Deniz consortium. The contracts cover phased delivery of equipment in 2016-2021.

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