TechnipFMC lands huge Petrobras deals for Brazil’s offshore oil boom

TechnipFMC has been awarded two major contracts by Brazilian oil giant Petrobras for projects in the country’s pre-salt offshore fields. The contracts, aimed at supporting the development of Brazil’s valuable oil reserves, reflect the company’s significant capabilities in the sector.

The first contract, described as “substantial,” involves the design, engineering, and manufacturing of riser flexible pipe. This contract includes the supply of additional services such as packing and storage. For TechnipFMC, a substantial contract is valued between $250 million and $500 million, and it will be included in the company’s inbound orders for the third quarter of 2024.

The second contract, defined as “significant,” was won following a competitive tender process. It covers the design, engineering, and manufacturing of subsea production systems for Petrobras’s Atapu 2, Sepia 2, and Roncador projects. The contract also extends to installation support and life-of-field services, as well as an option for further equipment and services. A significant contract for TechnipFMC is valued between $75 million and $250 million and will also be booked for the third quarter of 2024.

The equipment and services required for both projects will be sourced and manufactured locally in Brazil, highlighting TechnipFMC’s established presence in the region. The company’s local manufacturing and servicing capabilities are essential for maintaining Brazil’s position as a key player in the global oil and gas industry, particularly in pre-salt reserve development.

TechnipFMC’s President of Subsea, Jonathan Landes, noted that these awards reinforce the company’s leadership in flexible pipe technology and its proven success with standardized equipment platforms. He highlighted the success the company has had in delivering for Petrobras on previous projects, such as the Buzios 6-9 fields. Landes also emphasized the company’s nearly 70-year presence in Brazil and reaffirmed TechnipFMC’s commitment to supporting Petrobras’s strategic goals for the region.

Both contracts represent a strategic win for TechnipFMC, as it continues to solidify its position as a key provider of subsea technology and services in Brazil, one of the world’s most prominent oil-producing regions. The deals are expected to bolster TechnipFMC’s portfolio and operational footprint in Latin America.