FMC Technologies Wins Petrobras Contract

FMC Technologies has signed a frame agreement with Petrobras, Brazil's national oil company. The multi-year frame agreement covers the supply of 30 subsea trees and related equipment designed for a water depth of 2000 meters, for offshore Brazil. FMC Technologies estimates that the total revenue will approximate $80 million over a three-year period if all the subsea trees that are contemplated under the agreement are ordered.

FMC has received the initial order for five trees, which will be engineered and manufactured at FMC's facility in Rio De Janeiro, Brazil.

"FMC has enjoyed a long and productive relationship with Petrobras," said Peter D. Kinnear, President, FMC Technologies. "We are pleased to support them as they continue with deepwater developments offshore Brazil."

Through its FMC CBV Subsea business, FMC Technologies has been supplying subsea solutions for the Brazilian oil industry since 1961. With two facilities in Rio de Janeiro and one service base in Macae, FMC Technologies' capabilities in Brazil include local engineering, project management, manufacturing, integration testing, installation and customer support.