FMC Technologies to Supply 15 Additional Subsea Trees to Brazilian International Energy Company Petrobras
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Houston, Texas, December 05, 2007 - FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from Petrobras (NYSE: PBR, PBRA) to supply 15 deepwater subsea trees for multiple deepwater projects offshore Brazil. The trees will be engineered and manufactured at FMC Technologies' facility in Rio de Janeiro. The order has a value of approximately $34 million in revenue to FMC Technologies.
These 15 trees are call-offs that complete a multi-year frame agreement that was first announced in August, 2006. All orders are expected to be delivered between 2009 and 2010.
"Our operation in Brazil has delivered more than 250 subsea trees and associated equipment to Petrobras during our long and productive relationship," said John Gremp, FMC's Executive Vice President. "We are pleased to once again support them with their deepwater developments offshore Brazil."
Through its FMC CBV Subsea business in Brazil, FMC Technologies has been supplying subsea solutions for the Brazilian oil industry since 1961. With two facilities in Rio de Janeiro and one service base in Maca©, FMC Technologies' capabilities in Brazil include local engineering, project management, manufacturing, integration testing, installation and customer support.
FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. The Company also produces food processing equipment for the food industry and specialized equipment to service the aviation industry. Twice named as the Most Admired Oil and Gas, Equipment Service Company by FORTUNE magazine, FMC Technologies employs approximately 12,000 people and operates 33 manufacturing facilities in 19 countries. For more information visit www.fmctechnologies.com.
Ellen Bates
Corporate Communications
1803 Gears Road
Houston, TX 77067
Phone: (281) 445-6559
Email: ellen.bates@fmcti.com
