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GE Oil & Gas wins US$500 million Petrobras contract

Wednesday, Jan 16, 2013

GE Oil & Gas (NYSE: GE) has won a contract worth more than US$500 million to supply turbomachinery equipment and services to Petrobras, a world leader in deep-water oil production. The contract will serve the four new floating production, storage and offloading units (FPSOs P-74, P-75, P-76 and P-77) in the Cessão Onerosa region of the Santos Basin pre-salt fields, in the state of São Paulo.

“Our focus is to seek partnerships like this, where GE can offer its expertise to support the economic development of Brazil”

“Our focus is to seek partnerships like this, where GE can offer its expertise to support the economic development of Brazil,” said Reinaldo Garcia, president and CEO of GE Latin America. “The country continues to assume an increasingly strategic position to the company's business globally, and Petrobras is one of the most important partners we have.”

The main benefits of GE’s proposal include an aggressive delivery cycle, high equipment reliability and efficiency, improved performance, emissions control and extended equipment life. In the pre-salt fields, GE’s technology will face some of the most challenging conditions.

“This contract with Petrobras demonstrates GE’s technological offshore leadership and our capacity to face our clients’ most difficult challenges,” says João Geraldo Ferreira, president and CEO of GE Oil & Gas for Latin America. “This win was the result of the collaboration between the different product and business lines at GE, demonstrating the strength of the company’s integration.”

Source: Business Wire

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