FMC Technologies Awarded Subsea Frame Agreement for Petrobras
Houston, TX, August 04, 2006 - FMC Technologies (NYSE: FTI) announced that it has signed a frame agreement with Petrobras, Brazil’s national oil company. The multi-year frame agreement covers the supply of 30 subsea trees and related equipment designed for a water depth of 2000 meters, for offshore Brazil. FMC Technologies estimates that the total revenue will approximate $80 million over a three-year period if all the subsea trees that are contemplated under the agreement are ordered.
FMC has received the initial order for five trees, which will be engineered and manufactured at FMC’s facility in Rio De Janeiro, Brazil
“FMC has enjoyed a long and productive relationship with Petrobras,” said Peter D. Kinnear, President, FMC Technologies. “We are pleased to support them as they continue with deepwater developments offshore Brazil.”
Through its FMC CBV Subsea business, 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 Macaé, FMC Technologies’ capabilities in Brazil include local engineering, project management, manufacturing, integration testing, installation and customer support.
FMC Technologies, Inc. (www.fmctechnologies.com) is a global leader providing mission-critical technology solutions for the energy, food processing and air transportation industries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products for its customers through its Energy Systems (comprising Energy Production Systems and Energy Processing Systems), FoodTech and Airport Systems businesses. FMC Technologies employs approximately 10,000 people and operates 32 manufacturing facilities in 17 countries.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company’s ability to control. These risks and uncertainties are described under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2005 and may be modified in subsequent periodic reports filed by the Company with the Securities and Exchange Commission that may be accessed on the Company’s website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
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