I too ran into the same problems and did the following...
* each disk volume shows a higher archy which I believe is showing the partions. eg...
3TB Seagate External Media
|__ 3TB (This is Partition #1)
|__ 8,000TB (This is where partion #2 would show up but it doesn't exist right now)
open Disk Utility > Select the Top '3TB Seagate External Media' from the list on left not the sub '3TB' (bottom) > click 'erase' tab > first choose 'Mac OS Extended (Journaled)' > click 'Erase...' > Close the disk utility program > Re-open the disk utility program > Choose the top '3TB Seagate External Media' from the list on the left again > Click the 'Partitions' tab > Change 'Volume Scheme' to '1 Partition' > for 'Volume Information' Fill in a name > Choose MS-DOS (FAT) which by default will be FAT32 > set Size to 3TB > click Apply
DONE!
I am running OS 10.6.8 on an iMac
Given the claimed limit of 2TB capacity when using Fat32 I am nervous that when I try to fill over 2TB it may not be possible to do so. If that is the case I am hoping that I will be able to create a second 1TB partion using 'Disk Utility' and the unused free space.
Seagate claims that Fat32 is not good for long time use with Mac but I have used it for 3yrs with a now full 1TB external drive and 2yrs with a 2TB half full drive.