GE Oil & Gas Awarded $120 Million in Brazil Deepwater Equipment

Business Wire reports, GE Oil & Gas'' drilling & production business has been awarded two contracts totaling more than $120 million by Daewoo Shipbuilding & Marine Engineering Co., Ltd of South Korea, one of the world''s leading specialized shipbuilding and offshore contractors. Under the first contract, GE will supply a blowout preventer stack and controls system, to be installed on a Petroserv-owned drillship for oil and gas production activities offshore Brazil. In addition, GE has been selected to supply two complete drilling packages to be installed on Odebrecht Oil & Gas owned drill-ships, each including a 10,000-foot riser system and BOP stacks and controls. GE Oil & Gas manufacturing plants in Houston, Texas, and Singapore will jointly manufacture the equipment for these orders, with deliveries scheduled between October 2010 and November 2011.

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