Shoaibi Group
The joint venture based in Al Khobar, Saudi Arabia, will be offering oil operators equipment and services for oil and gas exploration, development and production.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.”
Khalid 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.”
ENDS
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
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