GE Oil & Gas (GE: Quote) said that the company and Brazilian energy company Petrobras have signed subsea wellhead production contract, worth nearly US$1.1 billion or R$2.2 billion.
The company noted that the contract includes the delivery of approximately 380 subsea wellhead systems and installation tools needed in oil well exploration, and more than 75 percent of the parts will be made in Brazil.
GE announced the award of the contract at the 2012 Rio Oil & Gas being held September 17-20 in Rio de Janeiro.
GE Oil & Gas stated that Petrobras plans to install the subsea wellhead systems in various oil and gas fields in Brazil, including sub-salt. The equipment will be produced at the GE plant in Jandira (São Paulo), where GE has invested US$30 million to expand production capacity.
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by RTT Staff Writer
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