February 5, 2010 (FinancialWire) — FMC Technologies, Inc. (NYSE: FTI) said that it has signed a four-year subsea tree frame agreement with Petrobras (NYSE: PBR), Brazil’s national oil company.

The award is expected by FMC to result in around $400 million in revenue to FMC Technologies if all of the subsea equipment included in the agreement is ordered.

FMC said that the agreement provides assurance that at least 70 percent of the contractual value will be ordered by Petrobras during the agreement’s four-year call-off period.

FMC’s scope of supply includes the manufacture of up to 107 subsea trees and related tools designed for use offshore Brazil in water depths of 6,500 feet. All systems and equipment will be engineered and manufactured at FMC’s facility in Rio De Janeiro, Brazil. Deliveries are scheduled to Begin in 2012.

Houston-based FMC Technologies is a provider of technology solutions for the energy industry. The company has approximately 10,400 employees and operates 19 manufacturing facilities in 14 countries.

FMC Technologies designs, manufactures and services 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.

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