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NEWCASTLE/HOUSTON - TechnipFMC (NYSE:FTI), a $16.35 billion energy technology provider currently trading near its 52-week high, has been awarded a significant contract worth between $75 million and $250 million from Petrobras following a competitive tendering process, the company announced in a press release.
The contract covers the design, engineering, and manufacturing of subsea production systems for various Petrobras developments, including greenfield projects, brownfield expansions, and asset revitalizations. The agreement also includes installation support and life-of-field services, with provisions for additional equipment and services as needed. According to InvestingPro data, TechnipFMC maintains strong financial health with a perfect Piotroski Score of 9, suggesting robust operational efficiency.
All subsea production systems will be manufactured and serviced in Brazil, utilizing local capabilities and expertise, according to the company.
"Leveraging our industrialized operating model, we can standardize innovative solutions and deliver the schedule certainty that Petrobras expects on its projects," said Jonathan Landes, President of Subsea at TechnipFMC.
TechnipFMC describes itself as a technology provider to traditional and new energy industries with approximately 21,000 employees globally. The company is organized into two business segments: Subsea and Surface Technologies.
The contract announcement did not specify which particular Petrobras fields would receive the subsea systems or provide a timeline for implementation.
In other recent news, TechnipFMC reported robust financial results for the second quarter of 2025, surpassing market expectations. The company achieved an earnings per share of $0.68, exceeding the forecasted $0.58, and reported revenue of $2.53 billion, which was higher than the anticipated $2.48 billion. This strong performance led Bernstein analyst Guillaume Delaby to raise the price target for TechnipFMC from $32 to $37, while maintaining a Market Perform rating. Additionally, TechnipFMC indicated that it is now aiming for the high end of its 2025 guidance.
Furthermore, TechnipFMC will be added to the S&P MidCap 400 index, replacing Skechers USA Inc. This change is set to take effect before the opening of trading on September 12, 2025. The inclusion in the index follows the acquisition of Skechers by 3G Capital, pending final conditions. These developments highlight a period of positive momentum for TechnipFMC.
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