FMC bags subsea production system contract for Petrobras Tambau
FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an award to supply the subsea production system for Petrobras’ (NYSE: PBR, PBRA) Tambaú gas field. The award has a value of approximately $140 million in revenue to FMC Technologies.
The subsea production system, rated at 10,000 psi, will be installed in approximately 4,400 feet (1,350 meters) of water in the Santos Basin offshore Brazil. FMC Technologies’ primary scope of supply includes four vertical subsea trees, with an option for two additional trees, as well as manifolds, controls and associated equipment. The project will be engineered and manufactured at FMC Technologies’ facility in Rio de Janeiro. Deliveries are expected to commence in the fourth quarter of 2009.
“We are delighted to continue supporting Petrobras with their projects," said John Gremp, FMC Technologies’ Executive Vice President of Energy Systems. “Our operation has supplied the largest portion of Petrobras’ currently installed subsea equipment offshore Brazil. Including today’s announcement, Petrobras has now awarded our Brazilian operation more than 300 subsea trees and 21 subsea manifolds integrated with multiplex controls.”
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.
