FMC Technologies Awarded $40 Million Subsea Boosting Station Contract for Petrobras' Parque das Baleias Development

PR Newswire

HOUSTON, July 26, 2013 /PRNewswire/-- FMC Technologies, Inc. (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."

FMC Technologies, Inc. (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 18,900 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.  The word "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 the Company's ability to successfully deliver, and Petrobras' acceptance of, the subsea products ordered .  For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company's 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.  The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.  The Company 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.

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