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GE Oil & Gas (GE) wins a contract worth over $500M to supply turbo-machinery equipment and...

GE Oil & Gas (GE) wins a contract worth over $500M to supply turbo-machinery equipment and services to Petrobras (PBR) for offshore oil production in the Brazilian state of Sao Paulo. The deal also includes technical assistance for installation, maintenance and customer training. (PR)
Comments (2)
  • It's a good deal until there is a leak a mile below the surface!
    15 Jan 2013, 12:43 PM Reply Like
  • GE must beware, this is not only an extremely challenging technical and engineering environment but the political cauldron which is Brazil. If a hitch arises, what protection and indemnification will GE have? Not to mention the fallout could be worse than the depleted deuterium (radioactive) shells used by the US in the Iraq war, (an analogy if not a pretty or a pleasing ethical outcome).

     

    If GE wants to play safe and conservative then it should. If it wants to gets brazen, I would saddle-up with a player that has ethical currency to spend - like STO (Statoil AS), after all Brazil wants to play with Norway right now on its salt dome developments, and just got hefty financial support from Oslo. But, hopefully STO knows better...

     

    disc.: long GE, STO.
    15 Jan 2013, 01:40 PM Reply Like
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