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GE Wins Contract to Supply Equipment for OGX Projects

Source: www.gulfoilandgas.com 9/20/2011, Location: South America

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GE Oil & Gas (GE) has been awarded a major contract from OGX Petroleo e Gas 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, where OGX plans to drill a significant number of production wells over the next four years. With a total potential estimated value of US$230 million over the next four years, of which US$32 million on formal orders has been already signed and booked as of today, 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.

As a key part of the agreement, GE will provide a subsea template/tieback design that will allow OGX to have full flexibility between wells pre-drilled with semi-submersible rigs and wells drilled directly from the fixed platforms. This capability will help OGX to boost initial production of the Waimea and Waikiki fields by maximizing the use of the pre-drilled wells. GE’s template design has been field-proven in similar projects in West Africa.

“Our goal was to find a viable technology solution that gave us maximum flexibility in the development of the Waimea and Waikiki fields, and GE was able to meet that challenge,” said Reinaldo Belotti, production development director of OGX. “We are confident that GE’s continuing support and timely deliveries will be an important factor in the long-term success of this project,” reinforced Belotti.

The Waimea and Waikiki fields are located 60 kilometers off the coast of Rio de Janeiro, in water depths ranging from 120 to 140 meters. GE Oil & Gas is committing to 80 percent local content in fulfilling the contract, with most of the subsea equipment to be built at GE plants in Jandira and Macae, Brazil. Surface equipment will be partially supplied from GE facilities in Houston, Texas. Shipments will begin in the first quarter of 2012 and continue until the end of 2015.

“This is a major strategic win for GE Oil & Gas in Brazil, resulting from 13 months of outstanding teamwork among various GE business units and OGX,” said Calixto Deberaldini, Brazil oil and gas sales manager for GE. “The agreement builds upon our already strong relationship with OGX, which is one of our most important global customers,” emphasized Fernando Martins, Latin America vice president for GE Oil & Gas.

This latest agreement with OGX reinforces GE’s role as a leading supplier of subsea drilling systems for offshore operators in Brazil. Since 2007, the GE drilling and production business has provided more than 300 subsea wellhead systems to 15 different operators for projects offshore Brazil.

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