FMC Supplying Subsea Systems for Cascade & Chinook Projects

FMC Technologies has been awarded a contract to supply deepwater subsea systems to Petrobras for the Cascade and Chinook Development project in the Gulf of Mexico. The contract has a value of approximately $200 million in revenue to FMC Technologies.

FMC Technologies' scope of supply includes four horizontal subsea trees, three manifolds, control systems and two subsea horizontal electric submersible pumping systems, a new technology in the Gulf of Mexico. Deliveries are expected to commence in the fourth quarter of 2008.

"FMC has a strong, 25-year history of collaborating with Petrobras," said John Gremp, Executive Vice President, FMC Technologies. "We are pleased to provide these subsea systems and technologies as they expand their presence to the Lower Tertiary formations in the Gulf of Mexico."

The systems provided by FMC will be located in an average depth of 8,500 feet to support Petrobras' development of the Cascade and Chinook fields in the Walker Ridge area of the U.S. Gulf of Mexico. This project is the first major full field development executed by Petrobras in the U.S.