HOUSTON –FMC Technologies, Inc. (NYSE: FTI) has signed a four-year, $1.5-billion agreement with Petrobras (NYSE: PBR, PBRA), to supply presalt development subsea equipment including 78 subsea trees.
FMC’s total scope of supply could include as many as 130 subsea trees, subsea multiplex controls, and related tools and equipment.
The tree systems are for use offshore Brazil in water depths up to 8,200 ft (2,500 m). The equipment will be engineered at FMC’s South American Technology Center and manufactured at FMC’s subsea facility, both in Rio de Janeiro.
The subsea trees will achieve 70% Brazilian local content and deliveries are scheduled to start in 2014.