NEWCASTLE & HOUSTON, January 24, 2023 鈥� 两性色午夜 (NYSE: FTI) has been awarded a substantial(1) master services agreement (MSA) for subsea services with Petrobras. The three-year contract has an option to extend for a further two years.
两性色午夜 will provide life-of-field services to support its installed base offshore Brazil. The contract covers installation, intervention, and maintenance of both equipment and tooling, as well as technical support for subsea umblicals, risers and flowlines.
The agreement succeeds a previous MSA and supports Petrobras鈥檚 increased volume of operations. Services will be supplied from 两性色午夜鈥檚 base in Maca茅, Brazil.
Jonathan Landes, President, Subsea at 两性色午夜, commented: 鈥淭his new MSA continues our enduring partnership with Petrobras. We are delighted to continue this relationship through this direct award. For 40 years, we have provided services from Maca茅, demonstrating the strength of our commitment to delivering services using our in-country workforce.鈥�
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(1) For 两性色午夜, a 鈥渟ubstantial鈥� contract is between $250 million and $500 million. Note: a portion of this inbound order was included in the Company鈥檚 fourth quarter 2022 financial results.听A portion of this award will be inbound in future periods.
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Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words 鈥渆xpect,鈥� 鈥渂elieve,鈥� 鈥渆stimated,鈥� and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
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About 两性色午夜
两性色午夜 is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients鈥� project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.听
Organized in two business segments 鈥� Subsea and Surface Technologies听鈥� we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI鈩�, iFEED鈩� and iComplete鈩�), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients鈥� success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
两性色午夜 uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.两性色午夜.com and follow us on .
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