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

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs