FMC Technologies, Inc. (FTI) Executive Vice President/Chief Financial Officer Maryann T. Seaman said the company remains confident that deepwater oil exploration and production will continue driving its revenue growth. She was speaking at the Cowen & Company 4th Annual Ultimate Energy Conference, held at the New York Hilton Midtown in New York City.
FMC Technologies designs, manufactures and services subsea production and processing systems, surface wellhead production systems, measurement solutions and marine loading systems. The company is partnered with BP, Shell and other major producers.
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Despite downward pressure on oil prices, “We believe operators are committed to deep water,” said Seaman, citing global energy demands and oil production projections to 2020. Seaman said deepwater deposits from 2007 to 2012 represented 50% of new discoveries, and noted “nine of the last 10 discoveries were in deep water.”
Seaman said FMC also sees opportunities for growth in servicing its accounts and research assistance, including asset management and light well intervention.
Seaman said the company history reflects orders representing 15% growth compounded annually since 2001. She noted that 2014 represented “a significant year of inbound orders for us.” She said the company’s revenue guidance remained at $5.7 to $5.9 billion for 2015.
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