FMC Technologies, Inc. (NYSE: FTI) announced today that it has been awarded a contract by Petrobras(NYSE: PBR, PBRA) to supply three subsea boosting stations for the Parque das Baleias development, located offshore Brazil's Espirito Santo state in the Campos Basin. The contract has an estimated value of $40 million.
"The Horizontal Boosting Station for the Parque das Baleias project is FMC Technologies' third implementation of this type of subsea boosting technology for Petrobras," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "FMC Technologies is happy to support Petrobras with solutions that increase oil recovery and extend the life of fields."
To read more, please visit the FMC website.