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FMC Technologies Announces Subsea Services Frame Agreement With Petrobras

Stocks in this article: FTI PBR PBR.A

HOUSTON, April 15, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed a four year frame agreement with Petrobras (NYSE: PBR, PBRA) to provide subsea services for its fields offshore Brazil.

Under the terms of the agreement, FMC Technologies will provide equipment commissioning and offshore technical services in addition to maintenance, modification, storage and logistics for Petrobras' subsea fields.

"FMC Technologies has supported Petrobras' subsea development efforts for more than three decades," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This agreement will support new equipment installations and provide life-of-field support for the more than 350 FMC Technologies subsea trees and subsea manifolds currently in operation with Petrobras in Brazil."

FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE ® Magazine as the World's Most Admired Oil and Gas Equipment, Service Company in 2012, the Company has approximately 18,400 employees and operates 30 production facilities in 16 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. For more information, visit www.fmctechnologies.com .

This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995.  Words such as "estimated" and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature.  Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections.  Known material factors that could cause our actual results to differ from those in the forward-looking statements include FMC Technologies' ability to successfully deliver, and Petrobras' acceptance of, the subsea services ordered.  For additional information regarding known material factors that could cause actual results to differ from projected results, please see FMC Technologies' Annual Report on Form 10-K for the year ended December 31, 2012, as well as its other filings with the Securities and Exchange Commission.  FMC Technologies cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.  FMC Technologies undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise. 

(Logo: http://photos.prnewswire.com/prnh/20081222/LAM028LOGO)

SOURCE FMC Technologies, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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