U.S. based FMC Technologies Inc. (FTI), a provider of technology solutions for the energy industry, signed a contract to provide services to Brazil's state-run energy company Petroleo Brasileiro SA (PBR), or Petrobras, FMC said Monday in a press release.

"FMC signed a four-year subsea manifold frame agreement with Petrobras. The award is expected to result in approximately $300 million in revenue to FMC Technologies if all of the subsea equipment included in the agreement is ordered. The agreement provides assurance that a minimum of 75% of the contracted equipment will be ordered during the contract's four-year call-off period," FMC said.

FMC's scope of supply includes the manufacture of up to eight subsea manifolds with subsea multiplex control systems. All equipment will be engineered and manufactured at FMC's facility in Rio de Janeiro, Brazil. Deliveries are scheduled to commence in 2012.

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071; rogerio.jelmayer@dowjones.com
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