FMC Technologies, Inc. announced that it has signed an agreement with Petrobras, Brazil’s national oil company, for the supply of subsea manifolds for its pre-salt fields, located offshore Brazil.

The total scope of supply includes the delivery of up to 16 subsea manifolds and would result in approximately $650 million in revenue to FMC Technologies if all of the subsea equipment included in the agreement is ordered.

The initial order from the agreement includes 11 manifolds, tools and controls. This order is in addition to the three subsea manifolds of identical design ordered by Petrobras earlier this year. The equipment will be engineered and manufactured in Brazil with delivery scheduled to begin in 2015.

“This is the fourth award that FMC Technologies has received from Petrobras for its pre-salt fields,” said Tore Halvorsen, FMC Technologies’ Senior Vice President, Subsea Technologies. “We have made significant investments in our Brazilian operations to meet Petrobras’ needs and to provide greater local content in relation to these projects.”

Press Release, September 10, 2013