TechnipFMC (NYSE: FTI) has been awarded two subsea contracts by Petrobras for flexible pipe for use in multiple basins.

The first award is a substantial(1) contract to design, engineer, and manufacture flexible gas injection risers. This high-technology solution will sustain reservoir pressure and enhance production efficiency through high-capacity gas reinjection in pre-salt formations in the Santos Basin.

The second award, which followed a competitive tender, is a significant(2) contract to design, engineer, and manufacture flexible risers and flowlines for deployment on assets in the Campos Basin.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “As Petrobras unlocks Brazil’s energy resources, we are proud to provide technology and expertise that support some of their most technically challenging projects. TechnipFMC is a subsea innovation leader and continues to advance flexible technology to support new projects and enhance value for its clients.”

Manufacturing will be fulfilled exclusively at TechnipFMC’s flexibles manufacturing facility in Açu, Brazil. For more than 40 years, TechnipFMC has delivered advanced technological solutions while supporting the development of local economies in Brazil.

(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 million.

(2) 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.