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FMC Technologies, Inc. Q2 2008 Earnings Call Transcript

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2008-07-25 18:09:09.0

Tags: FMC Technologies Inc.

Question-and-Answer Session

[Operator Instructions] Your first question comes from the line of Rob Mackenzie.

Robert McKenzie - Friedman, Billings, Ramsey & Co.

Good morning, guys.

Peter D. Kinnear - President and Chief Executive Officer

Good morning, Rob.

Robert McKenzie - Friedman, Billings, Ramsey & Co.

I punched in earlier, but I punched in again. It looks like they may have had a problem with their queue. Question for you here on the order outlook, could you give us a run down for how you handicapped the upcoming orders, you know, Goliat, Jack/St. Malo. Dollyman [ph] etcetera from your recent presentation? What timing looks like, what slipped, what’s close?

Peter D. Kinnear - President and Chief Executive Officer

I will let John, let’s respond to that.

John T. Gremp - Executive Vice President, Energy Systems

Rob, this is John. Jack/St. Malo is moving on pretty well. The tender is expected to come out within the next 30 to 60 days. So I think that’s holding the schedule. Dollyman [ph] is also on track for the first half of 2009. ENI Goliat, that project in Norway that one has been moving out. Then we’ve got a number of projects, actually almost 20 projects in total that we consider major products that look like they’ll be in the 2009 time frame and we’re tracking all of those.

Peter D. Kinnear - President and Chief Executive Officer

I’d say about a third of those are in Angola, a handful in Norway, a number in Australia. All places we have strong positions in.

Robert McKenzie - Friedman, Billings, Ramsey & Co.

Thanks for that, John. And what would you say is the nearest term, sizeable, major project, as per your definition, 150 million. What’s the most likely first award that you think you guys are going to win?

John T. Gremp - Executive Vice President, Energy Systems

I think there is a couple out there that, that we’re chasing, I already mentioned Jack, St. Malo that one in the Gulf of Mexico, is the target for us. The Jubilee project in Ghana that is also a target for us and hopefully it would be awarded possibly before the end of the year. So, those are the two that we are watching.

Robert McKenzie - Friedman, Billings, Ramsey & Co.

And how would you tell us to think about call-offs from your Statoil Frame Agreement for the rest of the year here?

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