FMC Technologies, Inc. (FMC Technologies), incorporated in November 2000, is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services systems and products, such as subsea production and processing systems, surface wellhead production systems, high-pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. The Company operates in two segments: Energy Production Systems and Energy Processing Systems. On July 31, 2008, FMC Technologies completed the spin-off of its FoodTech and Airport Systems businesses into John Bean Technologies Corporation.
Energy Production Systems
Energy Production Systems designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore, including deepwater, exploration and production of crude oil and gas. The Company’s production systems control the flow of oil and gas from producing wells. FMC Technologies specializes in offshore production systems and has manufacturing facilities near offshore oil and gas producing basins. The Company markets its products primarily through its own technical sales organization. Energy Production Systems revenue comprised approximately 81% of FMC Technologies’ consolidated revenue during the year ended December 31, 2008.
Subsea systems represented approximately 66% of its consolidated revenues during 2008. The Company’s systems are used in the offshore production of crude oil and natural gas. Subsea systems are placed on the seafloor and are used to control the flow of crude oil and natural gas from the reservoir to a host processing facility, such as a floating production facility, a fixed platform, or an onshore facility. In addition to its subsea systems that control the flow of oil and natural gas from deepwater locations, FMC Technologies provides a range of surface wellheads and production systems for both standard service and critical service applications. The Company’s surface products and systems are used worldwide on both land and offshore platforms and can be used in climatic conditions, such as arctic cold or desert high temperatures. The Company supports its customers through engineering, manufacturing, field installation support and aftermarket services. Surface products and systems represented approximately 14% of the Company’s consolidated revenues in 2008. The Company designs and manufactures systems that separate production flows from wells into oil, gas and water.
Energy Processing Systems
Energy Processing Systems designs, manufactures and supplies high-pressure valves and fittings for oilfield service customers. The Company also manufactures and supplies liquid and gas measurement and transportation equipment and systems to customers involved in the production, transportation and processing of crude oil, natural gas and petroleum-based refined products. It sells to the end user through authorized representatives, distributor networks and its own technical sales organization. The segment’s products include fluid control, measurement solutions, loading systems, material handling systems and blending and transfer systems. Energy Processing Systems revenue comprised approximately 19% of its consolidated revenue during 2008. FMC Technologies designs and manufactures flowline products, under the WECO/Chiksan trademarks, and pumps and valves used in well completion and stimulation activities by major oilfield service companies, such as Schlumberger Limited, BJ Services Company, Halliburton Company and Weatherford International Ltd.
The Company’s flowline products are used in equipment that pumps corrosive and/or erosive fluid into a well during the well construction or stimulation process. Its reciprocating pump product line includes duplex, triplex and quintuplex pumps utilized in a variety of applications. Its measurement systems provide solutions for use in custody transfer of crude oil, natural gas and refined products. The Company provides land and marine-based fluid loading and transfer systems primarily to the oil and gas industry. Its systems are capable of loading and offloading marine vessels transporting a range of fluids, such as crude oil, liquefied natural gas and refined products. While these systems are typically constructed on a fixed jetty platform, the Company has also developed advanced loading systems that can be mounted on a vessel or structure to facilitate ship-to-ship or tandem loading and offloading operations in open seas or exposed locations.
FMC Technologies provides material handling systems, including bulk conveying systems to the power generation industry. The Company provides solutions for conveying, feeding, screening and orienting bulk product for customers in various industries. Its process, engineering, mechanical design and project management capability enables the Company to execute these projects on a turnkey basis. FMC Technologies provides engineering, design and construction management services in connection with the application of blending technology, process controls and automation for manufacturers in the lubricant, petroleum, additive, fuel and chemical industries.
The Company competes with Cameron International Corporation, GE Vetco Gray, Aker Solutions and Wood Group.