GE Oil & Gas (GE) 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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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.