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Brazil's Petrobras inks billion-dollar deal with GE

English.news.cn   2012-09-19 12:46:57            

RIO DE JANEIRO, Sept. 18 (Xinhua) -- Brazilian state-controlled oil and gas giant Petrobras on Tuesday closed a 1.13-billion-U.S.-dollar contract with GE Oil and Gas on offshore equipment.

According to the deal, announced by GE during the Rio Oil and Gas conference, GE will provide Petrobras with 380 wellheads and necessary tools for the installation of oil wells.

Some 75 percent of the equipment will be produced in Brazil, in GE's factory in Jandira, Sao Paulo state, which has received 30 million dollars in investment in the past few years. GE has other four factories in Brazil, some of which have also received large investments in recent years.

GE dubbed the deal "the largest in history" on wellheads. The contract's value is much higher than the previous deal between the two companies, which was closed in 2009 for 250 million U.S. dollars.

"In the past few years, we have focused our investments and efforts to prepare our company to support the market's growth, and to be prepared for such large contracts," said Joao Geraldo Ferreira, GE Oil and Gas' CEO for Latin America.

"We want to grow with the country," he stressed.

Editor: Luan
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