| GE to Provide Equipment to Develop Brazil’s Santos Oil Basin, One of the World’s Largest Oil Reserv |
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31/01/2012 03:43 (113 Day 22:00 minutes ago) | |||||
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The FINANCIAL -- GE Oil & Gashas been selected to provide key equipment for a floating oil production, storage and offloading platform being built to develop the Guará Norte section of the Tupi oilfield in Brazil’s Santos oil basin, according to General Electric Company.
The multimillion-barrel deep-water Santos formation lies some 300 kilometers offshore Rio de Janeiro, and its output is expected to transform Brazil into one of the world’s leading oil producers and exporters.
The FPSO will work in waters 2,300 meters deep and is designed to process 150,000 barrels per day of production fluids; to treat 6,000,000 m3/day of associated gases for CO2/hydrogen sulphide removal and compression; and to inject 180,000 bpd water into the ground. Delivery is set for 2014 under a 20-year lease to the consortium developing Guará Norte: Petroleo Brasileiro S.A. , BG E&P Brasil LTDA and Repsol Sinopec Brasil S.A.
GE also has announced it will invest US$500 million to expand its Brazilian operations, including the establishment of a multi-disciplinary research and development center in Rio de Janeiro to pursue advanced technologies for the oil and gas sector, among other areas. Moreover, GE’s acquisition of Wellstream, a leading producer of flexible pipe equipment, significantly expands GE’s capabilities to serve the Brazilian offshore market from Wellstream’s Rio de Janeiro base.
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