TechnipFMC has been awarded a substantial(1) master services agreement (MSA) for subsea services with Petrobras. The three-year contract has an option to extend for a further two years.

TechnipFMC will provide life-of-field services to support its installed base offshore Brazil. The contract covers installation, intervention, and maintenance of both equipment and tooling, as well as technical support for subsea umblicals, risers and flowlines.

The agreement succeeds a previous MSA and supports Petrobras’s increased volume of operations. Services will be supplied from TechnipFMC’s base in Macaé, Brazil.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “This new MSA continues our enduring partnership with Petrobras. We are delighted to continue this relationship through this direct award. For 40 years, we have provided services from Macaé, demonstrating the strength of our commitment to delivering services using our in-country workforce.”

(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 million. Note: a portion of this inbound order was included in the Company’s fourth quarter 2022 financial results. A portion of this award will be inbound in future periods.

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.

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.