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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.
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.
Posted In: FTI
