Market Overview

GE Oil & Gas Wins $500M Contract with Petrobras

Related GE
Danaher's Not Cheap, But Barclays Says Price Is Worth It For A 'Sleep At Night' Stock
Technical Alert: General Electric Lower For Fifth Day In A Row
GE Still A Buy For The Long Haul (Seeking Alpha)
Related PBR
What Rio worries? Brazilian Stocks Rev Higher
Barclays Ratings And Price Target Changes For Wednesday, July 13, 2016
Petrobras eyes reduced role in Brazil's natural gas industry (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!