TechnipFMC (NYSE: FTI) has been awarded two subsea contracts by Petrobras for the pre-salt fields offshore Brazil.

The first award is a substantial(1) contract to design, engineer, and manufacture riser flexible pipe. TechnipFMC will also supply associated services including packing and storage.

The second award, which followed a competitive tender, is a significant(2) contract to design, engineer, and manufacture subsea production systems to be deployed on the Atapu 2, Sepia 2, and Roncador projects. The contract also covers installation support and life-of-field services, as well as the option for additional equipment and services.

All equipment and products will be manufactured and serviced locally, leveraging core capabilities in Brazil that enable continued development of pre-salt reserves.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “These awards underscore our leadership position in flexible pipe technology, and the proven success of our standardized equipment platform that was effectively deployed for Petrobras on the Buzios 6-9 fields. Our nearly 70-year legacy in Brazil reflects our deep commitment to the region and highlights our continuing support of Petrobras’s strategic vision. We will draw on our extensive in-country operations to deliver on these contracts.”

(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 million. This award will be included in inbound orders in the third quarter of 2024.
(2) For TechnipFMC, a “significant” contract is between $75 million and $250 million. This award will be included in inbound orders in the third quarter of 2024.

About TechnipFMC

TechnipFMC (NYSE: FTI) 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.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.