HOUSTON, June 28 /PRNewswire-FirstCall/ -- FMC
Technologies, Inc. (NYSE: FTI) announced today that it has signed a
four-year subsea manifold frame agreement with Petrobras (NYSE:
PBR, PBRA), Brazil's national oil
company. The award is expected to result in approximately
$300 million in revenue to FMC
Technologies if all of the subsea equipment included in the
agreement is ordered. The agreement provides assurance that a
minimum of 75 percent of the contracted equipment will be ordered
during the contract's four-year call-off period.
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FMC's scope of supply includes the manufacture of up to eight
subsea manifolds with subsea multiplex control systems. All
equipment will be engineered and manufactured at FMC's facility in
Rio de Janeiro, Brazil. Deliveries
are scheduled to commence in 2012.
"In February, Petrobras awarded FMC a long-term subsea tree
frame agreement," said John Gremp,
FMC's President and Chief Operating Officer. "Today's four-year
manifold agreement further strengthens our ability to support their
ongoing and future activities, including deepwater and pre-salt
developments."
FMC Technologies, Inc. (NYSE: FTI) is a leading global
provider of technology solutions for the energy industry.
Named by FORTUNE® Magazine as the World's Most Admired Oil and
Gas Equipment, Service Company in 2010, the Company has
approximately 10,400 employees and operates 25 production
facilities in 15 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.
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. These risks and
uncertainties are described under the caption "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2009 and may be modified
in subsequent quarterly reports filed by the Company with the
Securities and Exchange Commission that may be accessed on the
Company's website. The Company cautions shareholders
and prospective investors that actual results may differ materially
from those indicated by the forward-looking statements.
SOURCE FMC Technologies, Inc.