By Brazil Stock Guide – TechnipFMC (NYSE: FTI) said it secured two subsea contracts from Petrobras (NYSE: PBR) valued at up to $750 million, according to a statement reported by Investing.com. The deals involve the supply of flexible pipe systems to be deployed in Brazil’s key offshore producing regions.
The first contract, worth between $250 million and $500 million under TechnipFMC’s classification system, covers the design, engineering and manufacture of flexible risers for gas injection in pre-salt fields in the Santos Basin. The technology aims to maintain reservoir pressure and improve production efficiency through high-capacity gas reinjection.
A second award, valued between $75 million and $250 million, includes risers and flowlines for assets in the Campos Basin. The deal followed a competitive bidding process, reinforcing TechnipFMC’s role as a key subsea supplier for Petrobras.
Both contracts will be executed at TechnipFMC’s flexible pipe manufacturing facility in Açu, Brazil. “As Petrobras unlocks Brazil’s energy resources, we are proud to provide technology and expertise that support some of their most technically challenging projects,” said Jonathan Landes, President of Subsea at TechnipFMC.
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