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GE Oil & Gas and Brazilian energy company Petrobras have signed the world's largest subsea wellhead production contract, worth nearly $1.1 billion. This includes the delivery of approximately 380 subsea wellhead systems and installation tools needed in oil well exploration, and more than 75% of the parts will be made in Brazil.
Petrobras plans to install the subsea wellhead systems in various oil and gas fields in Brazil, including sub-salt. The equipment will be produced at the GE plant in Jandira (São Paulo), where GE has invested $30 million to expand production capacity.
“This new agreement between two of the world's largest companies shows our commitment to collaborate in the development of the oil and gas sector in Brazil,” said João Geraldo Ferreira, president and CEO of GE Oil & Gas for Latin America. “In recent years our investments and efforts have been focused on preparing our company to support market growth and to be ready for contracts of this size, developing the entire supply chain. We want to grow with the country.”