FMC will deliver subsea manifolds and another range of subsea equipment to Petrobras.
FMC Technologies has signed a four-year subsea manifold frame agreement with Petrobras. 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.
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."
With this new contract FMC Technologies joins Aker Solutions as the bulk supplier of subsea equipment to Petrobras. Both companies have a long standing relation to Petrobras. The manifolds and related subsea equipment will be built in FMC Technologies industrial plant in Rio de Janeiro, Brazil.
It isn´t clear exactly where the equipment will be installed, but they will most probably go to field developments in the Campos or the Santos Basin, where Petrobras has the majority of its new developments.
FMC Technologies already supplies a wide range of equipment to a number of O&G fields in Brazil, including a novel oil & water subsea separation system at the Marlim field, along with subsea equipment for at least another 14 fields for companies such as Petrobras, Chevron and Shell. The fact that FMC manufactures the equipment in Brazil and is present in such a large number of developments is a sure sign that they are considered a preferred partner by Petrobras.