Oil drilling equipment maker FMC Technologies Inc. (FTI) announced the receipt of an $80 million contract from Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. The deal calls for FMC Technologies to provide subsea service systems to Petrobras.
 
The company said that the contract, which is effective through 2012, includes supply of storage, maintenance, commissioning and offshore services for subsea and topside control systems and drill pipe riser systems.
 
The order is part of FMC Technologies’ strong and longstanding relationship with Petrobras and will be supported by its two manufacturing facilities in Rio de Janeiro and one service base in Macae.
 
FMC Technologies recently posted better-than-expected third quarter results despite pricing pressure and reduced order flow. A healthy backlog of $3 billion, coupled with FMC Technologies’ growing international operations and the still favorable outlook for the deepwater offshore markets should help the company weather the current downturn better than most of its peers.
 
Incorporated in 2000, Houston, Texas-based FMC Technologies is a leading manufacturer and supplier of technology solutions for the energy industry. The company, which operates 19 manufacturing facilities in 14 countries, is engaged in the designing, producing and servicing technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems for the oil and gas industry.
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