TechnipFMC awarded subsea services deal by Petrobras in Brazil

TechnipFMC (FMC) "has been awarded a substantial master services agreement for subsea services with Petrobras (PBR). The three-year contract has an option to extend for a further two years. TechnipFMC will provide life-of-field services to support its installed base offshore Brazil. The contract covers installation, intervention, and maintenance of both equipment and tooling, as well as technical support for subsea umblicals, risers and flowlines. The agreement succeeds a previous MSA and supports Petrobras’s increased volume of operations. Services will be supplied from TechnipFMC’s base in Macae, Brazil. For TechnipFMC, a "substantial" contract is between $250M and $500M."