GE & PETROBRAS: $300 MLN
GE Oil & Gas today announced a more than $300 million contract with Petrobras for the first supply of the subsea manifold systems for Brazil's pre-salt fields, located offshore in water depths up to 6,500 feet (2,000 meters).
This award includes eight manifolds that will be designed with retrievable injection modules to allow water-alternated gas injection for up to four wells, and system integration with subsea controls.
"This contract illustrates how GE Oil & Gas has expanded its portfolio of solutions to support development of Brazil's pre-salt fields," said Rod Christie, CEO of Subsea Systems for GE Oil & Gas. "Our company has developed solutions that are standardized around a series of pre-approved modules to meet our customers' specific local needs."
The equipment will be manufactured in Brazil, reinforcing the company's commitment to comply with local content requirements.
"GE Oil & Gas has an enduring partnership with Petrobras to support the development technologies and solutions to support offshore operations in Brazil, especially pre-salt. We work to strengthen the relationship and support Petrobras' challenges," said Patricia Vega, President and CEO of GE Oil & Gas for Latin America.
In 2012, GE signed a frame agreement for delivery of subsea wellheads for pre-salt fields. With a complete portfolio, GE Oil & Gas is a world leader in advanced technologies and services for the oil and gas industry.
With 43,000 employees in more than 100 countries, GE Oil & Gas supports the industry from extraction to transportation to end use. The company works in collaboration with its customers to develop smart solution across the oil and gas value chain delivering the innovation, customized service solutions, training programs and technology that helps them to maximize their efficiency, productivity and equipment reliability.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.