Petrobras has awarded GE a US$ 200 million subsea contract

GE Oil & Gas has announced that its Wellstream business, acquired in March, has been awarded a long-term, flexible pipe and subsea equipment logistics services contract by Petrobras). The long-term contract is initially valued in excess of US$ 200 million.

To perform the long-term contract, GE will build a dedicated 55,000 m2, US$ 90 million investment Wellstream flexible pipe and subsea equipment Logistics Base in Niterói, a commercial hub located 14 km outside Rio de Janeiro. Petrobras will use the new facility to support its development of pre-salt oil and gas field projects in the Campos and Santos basins offshore Brazil.

Luis Araujo, President of Wellstream Brazil, GE Oil & Gas said, “We are delighted to be selected by Petrobras for this contract and to strengthen our relationship with a new, $90M investment logistics facility dedicated to directly meeting Petrobras’ ongoing subsea logistics requirements. The Wellstream Logistics Base will further expand GE’s presence in Brazil and create up to 500 new jobs, helping to build local skills and expertise.”

In March, GE completed its US$ 1.3 billion acquisition of Wellstream, a leading engineer and manufacturer of high-quality flexible pipeline products for oil and gas transportation in the subsea production industry.

Read the article online at: https://www.worldpipelines.com/business-news/16062011/petrobras_has_awarded_ge_a_us$_200_million_subsea_contract/