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Gold/Mining/Energy : FMC Technologies

FTI 41.35

-1.1%

Oct 31 9:30 AM EST

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From: Condo	10/10/2007 7:31:51 PM
	of 20

HOUSTON - Oilfield services company FMC Technologies Inc. on Tuesday said it was awarded a contract worth about $200 million to supply deepwater subsea systems to a subsidiary of Brazil's Petrobras energy company. Under the agreement, FMC will supply assorted subsea systems at an average depth of 8,500 feet to support Petrobras' development of the Cascade (nyse: CAE - news - people ) and Chinook fields in the Walker Ridge area of the U.S. Gulf of Mexico. Deliveries are expected to begin in the fourth quarter of 2008. FMC shares rose $2, or 3.5 percent, to $59.33, while Petrobras shares rose $2.23, or 2.8 percent, to $81.13 in afternoon trading. Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed forbes.com

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