TechnipFMC awarded flexible pipe frame agreements by Petrobras in Brazil

Source: press release, 9 December 2021

illustration: TechnipFMC
illustration: TechnipFMC

TechnipFMC has been awarded three frame agreements by Petrobras that reaffirm the company’s leadership position in Brazil’s flexible pipe market – the industry’s largest and most established market. Altogether, the frame agreements form a large contract for TechnipFMC.

The contracts were awarded as part of Petrobras’s drive to increase oil recovery in its brownfield developments, mainly in post-salt fields offshore Brazil.

The frame agreements cover the manufacture of more than 500 kilometres of flexible pipe over the next 4 years, as well as services. This brings the Company’s total contracted volumes in the current year with Petrobras to around 600 kilometres.

Jonathan Landes, President, Subsea at TechnipFMC, comments, “Petrobras is a longstanding partner of ours. Through collaboration and leveraging our expertise to engineer, design, and manufacture solutions specifically for this environment, we successfully delivered a flexible solution that maximises oil recovery in the Brazilian deepwater environment.”

Note: For TechnipFMC, a “large” contract is between USD 500 million and USD 1 billion. A portion of this award will be inbound in future periods.