FMC signs an $80 million subsea service contract with Petrobras in January and is awarded a $400 million contract for subsea trees in February.
FMC Technologies signed a subsea service contract with Petrobras effective through 2012 and expected to result in an additional $80 million in revenue.
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 to deliver 107 subsea trees to Petrobras
FMC Technologies has signed a four-year subsea tree frame agreement with Petrobras. The award is expected to result in approximately $400 million in revenue to FMC Technologies if all of the subsea equipment included in the agreement is ordered.
The agreement provides assurance that at least 70 percent of the contractual value will be ordered by Petrobras during the agreement's four-year call-off period.
FMC's scope of supply includes the manufacture of up to 107 subsea trees and related tools designed for use offshore Brazil in water depths of 6,500 feet (2,000 meters). All systems and equipment will be engineered and manufactured at FMC's facility in Rio de Janeiro, Brazil. Deliveries are scheduled to commence in 2012.
John Gremp, Executive Vice President of FMC Technologies said; "Prior to this agreement, Petrobras had awarded more than 300 subsea trees to our operations in Brazil, and we are pleased to continue supporting their ongoing deepwater developments."
Although the release from FMC did not specify which model of subsea tree they are to deliver, it can be speculated by the depth rating of 2000 meters, that they will be delivering a model like their Enhanced Vertical Deepwater Trees (EVDT), which is based on the widely field proven 10K vertical tree and 15K EVXT, and in response to a growing worldwide demand for reduced total life of field cost, FMC has incorporated the latest technological advancements in the EVDT system.
The key advantage of the EVDT is the ability for the tubing hanger to either be installed directly in the subsea wellhead or in a tubing head spool. The in-wellhead completion complements the FMC 13-5/8” UWD-10 Slimbore Wellhead. This permits a well to be drilled and completed without having to retrieve the subsea BOP back to the surface to install either the tubing spool or horizontal tree spool.
The EVDT system features FMC’s proven flow module which provides maximum configuration and flexibility. The flow module can project specific variances such as production vs. water injection service, potentially eliminating the need for spare tree systems.
The standard EVDT is fully rated up to 10,000 ft (3,000 m) water depth and a -50° to 250°F (-45° to 120°C) temperature range. The system may also be configured for up to 350°F (175°C).
The EVDT allows for up to eleven (11) downhole functions – typically allocated as nine (9) hydraulic, and two (2) electrical or fiber optic lines.
With these two new contracts FMC solidifies its position as the leading subsea systems and subsea services provider for Petrobras and also the leading subsea company in Brazil.
Photo courtesy of FMC Technologies