FMC Technologies, Petrobras Sign Memorandum of Understanding

FMC Technologies, Inc. FTI announced today that it has signed a memorandum of understanding with Petrobras PZE to develop future subsea technology solutions for its oil and gas projects offshore Brazil. The agreement includes the development of innovative and cost effective subsea production systems to address the challenges associated with Petrobras' pre-salt oil and gas fields. It also includes the design of subsea processing technologies that can increase recovery rates at Petrobras' maturing oil and gas fields. Both companies anticipate a portfolio of subsea solutions will result from this announcement.