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January 21, 2010

FMC unit wins $80 million Petrobras subsea contract

FMC Technologies, Inc. (NYSE: FTI) says it has signed a subsea service contract with Petrobras (NYSE:PBR) (NYSE:PBRA) . The agreement is effective through 2012 and is expected to result in an additional $80 million in revenue to FMC Technologies.

FMC's scope of supply includes storage, maintenance, commissioning and offshore services for subsea and topside control systems and drill pipe riser systems.

"FMC has a strong and longstanding relationship with Petrobras," said John Gremp, Executive Vice President of FMC Technologies. "Today's announcement further strengthens that relationship, and will be supported by our two manufacturing facilities in Rio de Janeiro and one service base in Macae."


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