Offshore staff

RIO DE JANEIRO – GE Oil & Gas has been awarded a contract from OGX Petróleo e Gás Ltda. to supply drilling and production equipment for three offshore fixed production platforms to be deployed in the Waimea and Waikiki oil and gas fields of the Campos basin, offshore Brazil.

GE will provide a subsea template/tieback design that will allow OGX to have full flexibility between wells pre-drilled with semisubmersible rigs and wells drilled directly from the fixed platforms.

With a total potential estimated value of $230 million over the next four years, this is the largest contract ever signed between GE Oil & Gas and OGX and the first one involving the supply of equipment specifically for development projects already in the production phase.

The Waimea and Waikiki fields are located 60 km (37 mi) off the coast of Rio de Janeiro, in water depths between 120 to 140 m (394 to 459 ft).

GE Oil & Gas says it is committing to 80% local content in fulfilling the contract, with most of the subsea equipment to be built at GE plants in Jandira and Macaé, Brazil. Surface equipment will be partially supplied from GE facilities in Houston. Shipments will begin in the 1Q 2012 and continue until the end of 2015.

GE also has announced plans to invest $500 million to expand its operations in the country, including the establishment of a multi-disciplinary research and development center in Rio de Janeiro. Among the focus areas for the new center will be advanced technologies for the oil and gas sector.

09/20/2011