FLOWSERVE CORPORATION 
By Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced it has received major orders to supply custom-designed water injection and liquid transfer pumps for Sabah Shell Petroleum Company's Malikai oilfield project, which is located 110 kilometers (68 miles) off the coast of Sabah, Malaysia. Flowserve will also supply pumps for seawater lift, firewater, drain caisson, flare knockout drum, circulation and sump services. The orders were booked in 2013.
Technip, in a joint venture with Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), was awarded by Sabah Shell Petroleum Company Ltd (SSPC) a substantial contract for the engineering, procurement and construction of a tension leg platform (TLP) for the TLP Malikai Deepwater Project. This TLP will be designed as a fully-manned platform to be installed 110 kilometers offshore Sabah, Malaysia, at a water depth of approximately 500 meters. The TLP will weigh approximately 26,000 metric tonnes incorporating topsides and a hull. The "topsides" consists of surface installations allowing the drilling and/or production and/or processing of offshore hydrocarbons. It will have facilities to process 60,000 barrels of oil and 1.4 million cubic meters per day of gas. The tendons will be fabricated in the U.S. Gulf of Mexico, and transported to Malaysia for installation at the Malikai field.
Built in accordance with ISO 13709/API 610, Flowserve will provide four highly engineered, variable speed drive barrel pumps of super duplex stainless steel construction. Two WIK (BB5) multistage double case diffuser pumps will supply high-pressure deoxygenated water for well injection and a pair of HSO (BB5) multistage, double case volute pumps will transport the crude from the field to the KBB processing facility.
In addition, Flowserve will supply six WUC (VS6) vertical, double case, multistage pumps, six Pleuger submersible pumps in super duplex materials and six HPX (OH2) single stage API process pumps for various process services. All of the Flowserve pumps will also be installed with Flowserve seals and sealing systems to maximize reliability and help ensure the integrity of the pumping systems.
"Flowserve is proud to continue its long term relationship with Shell in the upstream market, especially offshore applications," said Jim Quain, president, Flowserve sales organization. "As a world leader in meeting the changing and demanding needs of the oil and gas industry, we take pride in our ability to supply highly engineered and customized water injection and liquid transfer pumps to meet our customers' high-pressure subsea pumping requirements."
About Flowserve: Flowserve Corp. is one of the world's leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company's Web site at www.flowserve.com.
Flowserve Contacts
Investor Contacts:
Jay Roueche, vice president, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, director, Investor Relations, (972) 443-6636
Media Contacts:
Lars Rosene, vice president, Global Communications and Public Affairs, (972) 443-6644
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in the global financial markets and the availability of capital and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers' ability to make required capital investment and maintenance expenditures; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; our ability to execute and realize the expected financial benefits from our strategic realignment initiatives; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, particularly Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela; our furnishing of products and services to nuclear power plant facilities; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; a foreign government investigation regarding our participation in the United Nations Oil-for-Food Program; expectations regarding acquisitions and the integration of acquired businesses; our foreign subsidiaries autonomously conducting limited business operations and sales in certain countries identified by the U.S. State Department as state sponsors of terrorism; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
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