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TechnipFMC Awarded Significant Subsea Production Systems Contract by Petrobras

1. TechnipFMC wins significant contract with Petrobras for subsea production systems. 2. Contract includes design, engineering, and installation support across various developments.

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$39.8309/24 06:39 AM EDTLatest Updated
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FAQ

Why Bullish?

Winning a significant contract enhances TechnipFMC's revenue potential and market position, similar to past contracts that led to stock price increases.

How important is it?

The contract with Petrobras could significantly enhance TechnipFMC's earnings and growth outlook, crucial for investor confidence.

Why Long Term?

The contract secures ongoing revenue streams, particularly in greenfield and brownfield projects, positively impacting financials over time.

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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract, following a competitive tendering process, for subsea production systems by Petrobras. TechnipFMC will design, engineer, and manufacture subsea production systems to be deployed in an array of greenfield developments, brownfield expansions, and asset revitalizations across Petrobras' extensive portfolio. The contract also covers installation support and life-of-field services, with provision.

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