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TechnipFMC (FTI) Gets Subsea Deal for Petrobras' Buzios Field
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TechnipFMC plc (FTI - Free Report) secured a significant subsea contract from oil major Petrobras S.A. (PBR - Free Report) for the Búzios 6-9 fields located in the Santos basin offshore Brazil. Per the terms of the deal, TechnipFMC will provide subsea trees with controls, electrical and hydraulic distribution units, topside systems as well as installation and intervention support with rental tools.
The Buzios 6-9 fields are important advancements in Brazil and it is the company’s privilege to help Petrobras in this subsea project, which further enhances their long-term partnership, asserted Jonathan Landes, president, Subsea, TechnipFMC. This contract highlights the company's unique potential to provide holistic solutions that satisfy clients' demands while also applying its pre-salt field knowledge.
TechnipFMC's project delivery will prioritize sustainability. Precisely, all subsea trees will be constructed at the company's facilities in Brazil, which are fully powered by renewable energy. The first set of deliveries is scheduled for the first quarter of 2023.
TechnipFMC's track record of project and technology delivery for Petrobras contributed to the solidification of the Lean manufacturing techniques used at the Rio Manufacturing Hub besides ensuring safety and quality enhancement as well as proper management of waste and costs.
Also, this April, the company received a major subsea contract from Petrobras to supply manifolds for the development of the Marlim and Voador oil and gas fields in the offshore Campos Basin of Brazil. Using its Robotic Valve Controller (RVC) technology, TechnipFMC will supply up to eight manifolds for the production and injection processes in the Petrobras-operated oil fields. The subsea contract also involves associated tools, spares and services.
Brief on the Company
TechnipFMC is a leading manufacturer and supplier of products, services and fully-integrated technology solutions to the energy industry. The company formed from the January 2017 merger of Technip and FMC Technologies is engaged in designing, producing and servicing technologically-sophisticated systems and products for subsea, onshore/offshore and surface projects.
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TechnipFMC (FTI) Gets Subsea Deal for Petrobras' Buzios Field
TechnipFMC plc (FTI - Free Report) secured a significant subsea contract from oil major Petrobras S.A. (PBR - Free Report) for the Búzios 6-9 fields located in the Santos basin offshore Brazil. Per the terms of the deal, TechnipFMC will provide subsea trees with controls, electrical and hydraulic distribution units, topside systems as well as installation and intervention support with rental tools.
The Buzios 6-9 fields are important advancements in Brazil and it is the company’s privilege to help Petrobras in this subsea project, which further enhances their long-term partnership, asserted Jonathan Landes, president, Subsea, TechnipFMC. This contract highlights the company's unique potential to provide holistic solutions that satisfy clients' demands while also applying its pre-salt field knowledge.
TechnipFMC's project delivery will prioritize sustainability. Precisely, all subsea trees will be constructed at the company's facilities in Brazil, which are fully powered by renewable energy. The first set of deliveries is scheduled for the first quarter of 2023.
TechnipFMC's track record of project and technology delivery for Petrobras contributed to the solidification of the Lean manufacturing techniques used at the Rio Manufacturing Hub besides ensuring safety and quality enhancement as well as proper management of waste and costs.
Also, this April, the company received a major subsea contract from Petrobras to supply manifolds for the development of the Marlim and Voador oil and gas fields in the offshore Campos Basin of Brazil. Using its Robotic Valve Controller (RVC) technology, TechnipFMC will supply up to eight manifolds for the production and injection processes in the Petrobras-operated oil fields. The subsea contract also involves associated tools, spares and services.
Brief on the Company
TechnipFMC is a leading manufacturer and supplier of products, services and fully-integrated technology solutions to the energy industry. The company formed from the January 2017 merger of Technip and FMC Technologies is engaged in designing, producing and servicing technologically-sophisticated systems and products for subsea, onshore/offshore and surface projects.
Zacks Rank & Key Picks
TechnipFMC currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the energy space are Matador Resources Company (MTDR - Free Report) and Oasis Petroleum Inc. , each presently flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>