GE, ATP partner to operate ATP Innovator

GE Energy Financial Services has agreed to invest $150 million in a partnership with Houston-based ATP Oil & Gas Corp. to own and operate the floating oil and gas production unit ATP Innovator in deepwater Gulf of Mexico.

Offshore staff

HOUSTON & STAMFORD, Connecticut -- GE Energy Financial Services has agreed to invest $150 million in a partnership with Houston-based ATP Oil & Gas Corp. to own and operate the floating oil and gas production unit ATP Innovator in deepwater Gulf of Mexico.

The vessel processes up to 20,000 b/d of oil and 100 MMcf/d of natural gas for supply via pipeline to the US market. The unit has been in operation since March 2006 and produces ATP reserves. The partnership plans to process additional reserves from a third party producer by 2010.

02/27/2009

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