UK contractor TechnipFMC has won a contract worth up to half a billion dollars to provide subsea services for Brazilian state giant Petrobras.
TechnipFMC on Tuesday confirmed it has been awarded a “substantial” master services agreement (MSA) for subsea services with Petrobras.
The contract workscope involves the installation, intervention, and maintenance of both equipment and tooling, as well as technical support for subsea umbilicals, risers and flowlines.
The three-year contract, which follows a previous MSA, carries a two-year option. The life-of-field services will be supplied from TechnipFMC’s base in Macae, Brazil.
“This new MSA continues our enduring partnership with Petrobras. We are delighted to continue this relationship through this direct award,” said TechnipFMC’s president subsea, Jonathan Landes.
“For 40 years, we have provided services from Macae, demonstrating the strength of our commitment to delivering services using our in-country workforce.”
TechnipFMC classifies a substantial contract as being between $250 million and $500 million. Part of this order was included in the company’s fourth quarter 2022 financial results.