TechnipFMC said on Tuesday that the Brazilian oil company Petrobras had awarded it a large master services agreement for subsea services.
For TechnipFMC, a “substantial” contract is between $250 million and $500 million.
The three-year contract has an option to extend for two years. TechnipFMC will provide life-of-field services to support its installed base offshore Brazil.
The contract covers installation, intervention, and maintenance of both equipment and tooling, as well as technical support for subsea umblicals, risers and flowlines.
The agreement succeeds a previous MSA and supports Petrobras’s increased volume of operations. Services will be supplied from TechnipFMC’s base in Macaé, Brazil, TechnipFMC said.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “This new [master services agreement] continues our enduring partnership with Petrobras. We are delighted to continue this relationship through this direct award. For 40 years, we have provided services from Macaé, demonstrating the strength of our commitment to delivering services using our in-country workforce.”