TechnipFMC has been awarded three frame agreements by Petrobras that reaffirm the Company’s leadership position in Brazil’s flexible pipe market – the industry’s largest and most established market. Altogether, the frame agreements form a large(1) contract for TechnipFMC.
The contracts were awarded as part of Petrobras’s drive to increase oil recovery in its brownfield developments, mainly in post-salt fields offshore Brazil.
The frame agreements cover the manufacture of more than 500 kilometers of flexible pipe over the next four years, as well as services. This brings the Company’s total contracted volumes in the current year with Petrobras to around 600 kilometers.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “Petrobras is a longstanding partner of ours. Through collaboration and leveraging our expertise to engineer, design, and manufacture solutions specifically for this environment, we successfully delivered a flexible solution that maximizes oil recovery in the Brazilian deepwater environment.”
(1) For TechnipFMC, a “large” contract is between $500 million and $1 billion. A portion of this award will be inbound in future periods.
