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BP Plc Inks Subsea Development Deal

02 March 2011

FMC Technologies, Inc has said that it has signed a five-year global frame agreement with BP plc to offer subsea production systems and life-of-field services for their worldwide subsea development projects.

John Gremp, the President and Chief Executive Officer of FMC Technologies said that, “We have a strong relationship with BP plc and have supported a number of their projects in the world’s most active deepwater basins. This includes innovative developments such as Thunder Horse in the Gulf of Mexico and Greater Plutonio offshore West Africa, and we are excited to further strengthen our alliance with today’s frame agreement.”

BP plc stocks were at 47.6 at the end of the last day’s trading. There’s been a 19.4% change in the stock price over the past 3 months.