FMC wins $400MM subsea tree contract from Petrobras

FMC Technologies, Inc. (FTI) announced today that it has signed a four-year subsea tree frame agreement with Petrobras (PBR), Brazil's national oil company. The award is expected to result in approximately $400 million in revenue to FMC Technologies if all of the subsea equipment included in the agreement is ordered. The agreement provides assurance that at least 70 percent of the contractual value will be ordered by Petrobras during the agreement's four-year call-off period. 

FMC's scope of supply includes the manufacture of up to 107 subsea trees and related tools designed for use offshore Brazil in water depths of 6,500 feet (2,000 meters). All systems and equipment will be engineered and manufactured at FMC's facility in Rio De Janeiro, Brazil. Deliveries are scheduled to commence in 2012. 

"FMC values its long and productive relationship with Petrobras," said John Gremp, Executive Vice President of FMC Technologies. "Prior to this agreement, Petrobras had awarded more than 300 subsea trees to our operations in Brazil, and we are pleased to continue supporting their ongoing deepwater developments."



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs