FMC sets up joint industry programme

FMC Technologies signed an agreement to establish a joint industry program that includes Anadarko Petroleum Corporation, BP, ConocoPhillips and Shell to jointly develop standardised subsea production equipment and systems for producing oil and gas from deepwater reservoirs with pressures of up to 20,000 psi and temperatures of 350°F at the mudline. FMC Technologies brings four operators together to jointly develop subsea equipment and systems that will meet the technical challenges of high pressures and temperatures, and will serve to improve overall deepwater development through the standardisation of materials, processes, and interfaces, as well as the enhancement of reliability and operability.

"This agreement is a clear illustration of how leading companies with a common interest can come together to overcome the technological and economic challenges facing our deepwater industry”, said John Gremp, FMC Technologies' chairman, president and CEO. "By working together collaboratively, we will continue to achieve technological innovations that will enable us to safely develop some of the world's most promising fields and take a large step toward providing new oil and natural gas resources to consumers and superior returns to stakeholders."