Industry-Wide, Three-Year Frame Agreement Largest Ever Wellhead Contract Awarded to Date
RIO DE JANIERO--08 June 2009-- GE Oil & Gas, a world leading company in oil and gas advanced technology equipment and services, announced today that its drilling & production business has been awarded a three-year frame agreement valued at more than $250 million to supply 250 VetcoGray subsea wellhead systems to Petroleo Brasileiro S.A. (Petrobras) of Brazil, an integrated oil and gas company. In terms of number of wellheads, this is the largest contract awarded to date in the industry.