Petrobras (PBR) in $125 Million FMC (FTI) Equipment Order

FMC Technologies Inc. (NYSE:FTI) has been hopping over the last couple of days, as it has received a $125 million equipment order from Brazil energy giant Petrobras (NYSE:PBR), and also signed a 5-year subsea deal with BP (NYSE:BP).

With Petrobras, FMC will provide them with 32 subsea trees, which are valve systems used on wells to control oil flow.

FMC has had a significant relationship with Petrobras over the last couple of years, with this being the consummation of an order for 107 trees ordered by Petrobras in the early part of 2010.

The current trees are expected to start to be delivered in 2013.

Overall, FMC has delivered over 300 trees to projects operated by Petorbras, according to CEO John Gremp.

FMC closed Wednesday at $94.18, gaining $2.32, or 2.53 percent. Petrobras closed at $40.88, up $1.68, or 4.29 percent.