05:43 PM EDT, 07/23/2024 (MT Newswires) -- TechnipFMC ( FTI ) said late Tuesday it received a "substantial contract" from Petrobras (PBR) to supply flexible pipe for the pre-salt fields offshore Brazil.

TechnipFMC ( FTI ) defines a "substantial contract" as one that ranges between $250 million and $500 million in value.

The company said the contract covers the design, engineering and production of flexible pipe for water injection and gas lift.

TechnipFMC ( FTI ) shares were up 1.4% in after-hours activity.

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