TechnipFMC Expects High Revenue From Brazilian Subsea Projects

Written by Renato Oliveira

Published on 27/04/2019 at 01:17

Updated on 26/04/2019 at 19:17

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Company Expects Large Contracts in Brazil for the Next Two Years in the Pre-Salt of the Santos Basin

TechnipFMC announced last Thursday (04/25) that five projects in the Brazilian subsea are expected to result in contracts exceeding US$ 4.5 billion in the next two years.
The projects would be: Itapu, Mero 2, and Búzios V, operated by Petrobras; Lapa NE and Lapa SW, from the French Total; and Carcará, from the Norwegian Equinor.

The company, as one of the largest suppliers in the world of goods and services in the subsea segment, is very optimistic about the picture that is shaping up.
With Itaipu and Mero 2 alone, TechnipFMC expects the contracts to be around US$ 250 million and US$ 500 million each.
With Búzios and Lapa, US$ 500 million and US$ 1 billion (for each, NE and SW), respectively, and for Carcará, over US$ 1 billion is expected.

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The Santos Basin is responsible for all these contracts, and in its Pre-Salt area, TechnipFMC is betting heavily and expects to secure a significant portion of them.
Since Petrobras has already disclosed its estimated first oil from these fields, TechnipFMC’s optimism should be confirmed, as the Brazilian state-owned company has declared that it counts on Búzios V for 2021, Mero 2 for 2022, and Itapu for 2023.

Regarding Total’s fields, they are undergoing a new phase of development, and in Carcará, it is expected that Equinor will begin production between 2023 and 2024.

Contracts Already Secured by TechnipFMC

TechnipFMC has already secured important contracts in Brazil at the start of this year, as our portal Click Oil and Gas reported here, one of them was for flexible pipe supplies for the Lapa field ranging from US$ 75 million to US$ 250 million.
The other contract recently closed by the company was for subsea interconnection of the Mero 1 field, with the company estimating the value between US$ 500 million and US$ 1 billion.

Schlumberger has signed two contracts with Modec! See here what they were and stay informed!

TechnipFMC Expects High Revenue From Brazilian Subsea Projects

Company Expects Large Contracts in Brazil for the Next Two Years in the Pre-Salt of the Santos Basin

Contracts Already Secured by TechnipFMC

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TechnipFMC Expects High Revenue From Brazilian Subsea Projects

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