Market Overview

GE Oil & Gas Wins $500M Contract with Petrobras

Share:
Related GE
S&P 500 Index Futures Continue To Rally
Watch These 7 Huge Call Purchases In Thursday Trade
U.S. Market Indexes Continue to Gain With Active Stock Trading (GuruFocus)
Related PBR
Petrobras Amends Terms Of Global Notes Due 2018, Hikes Consideration Offer
Morgan Stanley Talks To The Petrobras CEO
Latin America's Morning Espresso: June 30 (Seeking Alpha)

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.

Posted-In: News Contracts

 

Related Articles (GE + PBR)

View Comments and Join the Discussion!