FMC Technologies awarded $40M Petrobras contract

FMC Technologies Inc.

FMC Technologies Inc. (NYSE: FTI) has been awarded a contract by Petrobras (NYSE: PBR, PBRA) to supply three subsea boosting stations for the Parque das Baleias development, located offshore Brazil's Espírito Santo state in the Campos Basin. The contract has an estimated value of $40 million.

"The horizontal boosting station for the Parque das Baleias project is FMC Technologies' third implementation of this type of subsea boosting technology for Petrobras," said Tore Halvorsen, FMC Technologies' senior vice president of Subsea Technologies. "FMC Technologies is happy to support Petrobras with solutions that increase oil recovery and extend the life of fields."

FMC Technologies designs, manufactures and services systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry.

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