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GE Oil & Gas Wins $500M Contract with Petrobras

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GE Oil & Gas (NYSE: GE) has won a contract worth more than US$500 million to supply turbomachinery equipment and services to Petrobras (NYSE: PBR), 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.

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.

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