FMC Technologies, Inc. (NYSE:FTI) announced today that it has received an award to supply Petrobras (NYSE:PBR) (NYSE:PBRA) with deepwater subsea trees and tie-in systems for 11 add-on wells at the Roncador Module 3 Field, located offshore Brazil. The award has a value of approximately $67 million in revenue to FMC Technologies.
The scope of supply consists of 11 subsea trees, 11 Pipeline End Terminations (PLETs), 11 rigid jumpers and associated installation tools. The project will be engineered and manufactured at FMC Technologies’ facility in Rio de Janeiro and deliveries are expected to commence in 2009.
“We are pleased to continue supporting Petrobras with their deepwater developments," said John Gremp, executive vice president of FMC Technologies. "With this order, Petrobras has now awarded approximately 300 subsea trees to our Brazilian operation.” Mr. Gremp also noted that FMC has supplied the largest portion of Petrobras’ currently installed subsea base offshore Brazil.
Through its FMC CBV Subsea business in Brazil, FMC Technologies has been supplying subsea solutions for the Brazilian oil industry since 1961. With two facilities in Rio de Janeiro and one service base in Macaé, FMC Technologies’ capabilities in Brazil include local engineering, project management, manufacturing, integration testing, installation and customer support.
FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company 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. The Company also produces food processing equipment for the food industry and specialized equipment to service the aviation industry. Twice named as the Most Admired Oil and Gas, Equipment Service Company by FORTUNE magazine, FMC Technologies employs approximately 13,000 people and operates 33 manufacturing facilities in 19 countries. For more information visit www.fmctechnologies.com.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Cautionary Note Regarding Forward-Looking Statements in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Annual Report on Form 10-K for the year ended December 31, 2006. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.