FMC Technologies Chosen By Chevron to Supply Subsea Systems for its Frade Project in Brazil

abarrelfullabarrelfull wrote on 20 Jul 2012 06:43

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Jun 20, 2006

FMC Technologies (NYSE:FTI) announced today that it has been chosen by Chevron Frade LLC, a subsidiary of Chevron (NYSE:CVX), to supply subsea systems for its Frade project, offshore Brazil. The contract has a value of approximately $130 million in revenue to FMC Technologies.

FMC Technologies' scope of supply for the Frade project includes 19 enhanced horizontal subsea trees (EHXT), wellheads, pipeline end manifolds with associated structures, production control systems and other related equipment. Deliveries will be completed from FMC Technologies' Rio de Janeiro facility.

The Frade discovery is located in the North Campos Basin, approximately 110 km off the Brazilian coast and 215 km North East of Macae at a water depth of approximately 4000 feet (1330 meters).

"We are pleased that FMC Technologies has been chosen for this important Brazilian project," said Peter D. Kinnear, President and Chief Operating Officer, FMC Technologies. "This contract award demonstrates our leadership position as a provider of deepwater technology solutions. The FMC Technologies' enhanced horizontal subsea tree systems chosen for this project are among the most technically advanced oil and gas solutions in the world."

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