(1888PressRelease)
June 16, 2009 - The joint venture will manufacture surface wellhead equipment meeting API standards as well as FMC’s rigorous global quality standards in Saudi Arabia, and will benefit significantly from Shoaibi Group’s strong operations and market expertise across the Kingdom of Saudi Arabia.
“This represents a significant milestone in becoming more responsive to Saudi ARAMCO and to our ever-expanding customer base,” said Don Underwood, General Manager of Asia Pacific Middle East for FMC Technologies. “It is consistent with our commitment to sustainable development in the Kingdom of Saudi Arabia.”
Khaled Suhayl Al Shoaibi, Director of Shoaibi Group, said, “We are honoured to extend our business venture with FMC Technologies into local manufacturing, and trust our partnership will achieve excellent results. FMC Technologies, as a world leader in technology solutions for the energy industry, fuses well with our strategy to bring technology to the Middle East and North African oil and gas markets.”
About FMC Technologies:
FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry. The Company designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. Named by FORTUNE Magazine as America's Most Admired Oil and Gas Equipment, Service Company in 2005, 2006 and 2008, FMC Technologies has approximately 10,400 employees and operates 19 manufacturing facilities in 14 countries.
For more information, please visit www.fmctechnologies.com.
FMC Technologies Media Contact:
Rob Cherry – Director, Investor Relations
+1 281 591 4560
Ellen Bates – Director, Corporate Communications
+1 281 445 6559
About Shoaibi Group:
Shoaibi Group (SG) has an established reputation for engineering excellence and reliability in the oil and gas sector, and is involved in the power, IT and telecommunications sectors where it draws on local and international resources to benefit both its partners and customers. Shoaibi Group’s expertise in the oil and gas industry, has led the Group to be able to identify and form strategic partnerships as well as investing in innovative technologies that impact the upstream landscape in the region. Shoaibi Group has been in operation for more then 30 years, and encompasses a wide spectrum of global partnerships, agency representations, and joint ventures, in the Middle East & North Africa.
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