FMC Technologies Signs $80 Million Subsea Service Contract With Petrobras

Thursday, Jan 21, 2010

HOUSTON, Jan 20, 2010 /PRNewswire via COMTEX News Network/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a subsea service contract with Petrobras (NYSE: PBR, 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."

FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company has approximately 10,400 employees and operates 19 manufacturing facilities in 14 countries. FMC Technologies designs, manufactures and services technologically sophisticated 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. For more information visit www.fmctechnologies.com.

Source: FMC Technologies