GE (NYSE: GE) to Power Brazilian Oil Production Units
In a deal with Brazilian oil producer Petrobras, GE (NYSE: GE) Oil and Gas will supply gas generators for production units.

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General Electric’s (NYSE: GE) Oil and Gas division has secured a turbomachinery supply contract with Brazilian oil production company Petrobras worth more than $500 million.

Under the terms of the deal, GE will supply crucial turbomachinery components and equipment to Petrobras’ four new floating production storage and offloading units (FPSOs). The FPSOs are situated in the Santos Basin pre-salt fields in São Paulo.

The technology GE will supply will use gas generators to provide power to the FPSOs. In addition, GE will provide 16 powergen turbogenerators (primarily PGT25+ gas turbines and electric generators), 8 turbocompression chains powered by LM2500+ gas turbines, and 32 electric compressors.

The generators will aid in enhanced oil recovery by the units and in moving oil through the pipelines.

GE will also provide all technical assistance and maintenance services.

Preparations for this large-scale installation project are expected to commence right away.

From GE’s press release:

“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.”

The deal provides a big opportunity for GE to showcase its cutting-edge technology in some fairly demanding operating conditions.

GE Oil and Gas has more than 35,000 people over 100 nations working on all aspects of technologies and operations for petrochemicals.

This Article Originally was Published here:

GE (NYSE: GE) to Power Brazilian Oil Production Units originally appeared in Energy and Capital. Energy and Capital, a free daily newsletter, offers practical investment analysis in the new energy economy.
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