FMC Technologies awarded $720M contract from eni Muara Bakau BV FMC Technologies announced that it has received an order from eni Muara Bakau BV to supply subsea systems for its deepwater Jangkrik Complex development offshore Indonesia. The order has an estimated value of $720M in revenue if the full scope of the award is called off. FMC Technologies' scope of supply includes subsea trees, manifolds, jumpers and connection systems, umbilicals, tooling and associated topside and subsea controls systems.
News For FTI From The Last 14 Days
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FMC Technologies downgraded to Market Perform from Outperform at FBR Capital FBR Capital downgraded FMC Technologies to Market Perform citing expectations for a reduction in the volume of subsea well starts. FBR lowered its price target for shares to $58 from $68.