GE wins $600 million in contracts to support Brazil’s pre-salt field expansion

4/3/2013

GE wins $600 million in contracts to support Brazil’s pre-salt field expansion

PARIS -- As Petrobras moves forward with the expansion of Brazil’s pre-salt oil fields, GE’s Power Conversion business will provide systems to power, propel, navigate, position and control drillships and semi-submersibles in the area. In the last 12 months, GE has won contracts valued at more than $600 million.

GE is in the process of building systems for 22 of the 29 drillships for the current phase of Petrobras’ oil and gas exploration. GE has previous experience in supplying equipment for other deepwater operations.

Through its Brazilian pre-salt expansion contracts, GE will provide a range of electrical power generation, propulsion, drilling drives, dynamic positioning, thruster power and control systems for projects including: seven Estaleiro Atlântico Sul Espadon 200 drillships, three Ecovix-Engevix GustoMSC PRD 12000 ultra-deepwater drillships, six Enseada do Paraguaçu Shipyard GustoMSC PRD 1200 ultra-deepwater drillships and six Keppel Offshore & Marine semi-submersible drilling rigs.

Petrobras is searching for hydrocarbons up to 300 km off the coast of Brazil, in rock formations up to 5 km below the seabed and in water depths of up to 2,000 m. The pre-salt layer holds an estimated 10-16 Bboe. Exploration and recovery of these reserves is expected to require the construction of approximately 40 new drilling vessels between now and 2020.

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