Market Overview

GE Oil & Gas Wins $500M Contract with Petrobras

Related GE
GE Renewable Energy Launches New Suite Of Digital Wind Farm Apps
GE Investing $1.4B In Saudi Arabia, Leads Charge To Open The Oil-Dependent Kingdom
General Electric: Contrary To Popular Belief, All Is Well With The Integration Of The Alstom Assets (Seeking Alpha)
Related PBR
Petrobras Shares Underperform Despite JPMorgan Upgrade
Benzinga's Top Upgrades

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!