Gullfaks South is located in water depths between 425 and 720ft and will be developed as a fast-track project in blocks 34/10 and 33/12.
Under the terms of the contract, FMC will manufacture and supply subsea production equipment, including seven subsea production trees and seven wellhead systems.
It will also supply two integrated protection structures with manifolds and additional controls and equipment.
Tore Halvorsen, FMC senior vice president Subsea Technologies, said Statoil has made significant technology investments for Gullfaks, which is Europe’s fixed-platform subsea tie-back development.
"We are pleased to continue supporting their efforts to increase recovery and extend the life of this important field," said Halvorsen.
FMC’s manufacturing facilities in Norway and Scotland will supply the equipment and deliveries will begin in the second quarter of 2013.