TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract, following a competitive tendering process, for subsea production systems by Petrobras.

TechnipFMC will design, engineer, and manufacture subsea production systems to be deployed in an array of greenfield developments, brownfield expansions, and asset revitalizations across Petrobras’ extensive portfolio. The contract also covers installation support and life-of-field services, with provisions for additional equipment and services.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “Leveraging our industrialized operating model, we can standardize innovative solutions and deliver the schedule certainty that Petrobras expects on its projects. We look forward to creating new value together as we build on our decades-long relationship as a trusted local partner.”

The subsea production systems will be manufactured and serviced in Brazil, utilizing local capabilities and expertise.

(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 21,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

About Petrobras

Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.