FMC Technologies has signed a $54m contract with Statoil for the manufacture and supply of subsea production equipment to support the Gygrid offshore development in the Norwegian sector of the North Sea.

FMC‘s scope of supply includes the manufacture of two subsea production trees, one manifold and associated subsea and topside control systems.

The equipment will be based on a standard subsea solution designed by FMC for Statoil.

The company said that the deliveries are slated to begin in the third quarter of 2011.

Gygrid is a fast-track oil and gas field located in water depths of approximately 820ft (250m) in the North Sea.

FMC senior vice president of global subsea production systems Tore Halvorsen said that Gygrid was discovered in 2009 and was assigned fast-track status by Statoil.