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.

pennenergy.com