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BUSINESS NEWS

 
     
 

GE Oil & Gas wins OGX contract

Posted: 24 June 2009

GE Oil & Gas has been awarded a contract of more than $11 million to supply four VetcoGray subsea wellhead systems and running tool rentals to OGX Petroleo e Gas Ltda, the largest independent oil company in Brazil.

The order, the second received by GE under a four-year frame agreement with OGX signed in December 2008, will include the first two VetcoGray MS-800 subsea wellhead systems to be delivered in Brazil.

OGX is currently operating nine exploratory blocks in the Campos and Santos Basins, offshore Brazil, where several subsea exploratory wells will be drilled within the next three years.

The two VetcoGray MS-800 systems, plus two VetcoGray MS-700 systems also included in the new order, will be installed in those areas.

OGX has the exploration rights in 22 offshore high-potential blocks for a four-year exploratory drilling campaign that could include up to 51 wells offshore Brazil, with the potential to significantly increase Brazil’s oil discoveries.

"The latest order with OGX marks a major milestone for our new VetcoGray MS-800 subsea wellhead technology," said Fernando Martins, vice president, Latin America Region for GE Oil & Gas.

"These systems will provide OGX with greater flexibility in terms of casing programs for their deeper wells in Santos Basin. In addition, some of the components and tools used for MS-800 systems also can be used for the MS-700 systems, providing additional resources for OGX’s drilling projects. We are hopeful that the current order will lead to more opportunities for our MS-800 technology as OGX moves forward with its massive exploratory campaign."

This additional order and acquisition of latest MS-800 subsea wellhead technology demonstrate OGX confidence in the long-term partnership with GE Oil & Gas.

"We consider GE Oil & Gas one of our key suppliers for our upcoming exploratory drilling campaigns in Campos and Santos Basins", said Reinaldo Belotti, production development director, OGX.

"We are glad to receive GE’s latest VetcoGray MS-800 subsea wellhead technology, coupled with outstanding field service performance and large experience in Brazilian water for our upcoming wells.”

All of the equipment for the new order with OGX will be supplied by the Drilling & Production business of GE Oil & Gas and will be manufactured at the company’s facilities in Jandira, Sao Paulo state and Macaé, Rio de Janeiro state, Brazil. The wellhead systems will be delivered to OGX by December 2009.

 

 
     

 

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