Getting To The Bottom Of It
GE signs agreement with Pemex to supply, install equipment for drilling projects
GE Oil & Gas has signed a US$84 million agreement with Pemex Exploration and Production to supply and to install subsea wellheads for the company’s deepwater and ultra-deepwater drilling projects in the Gulf of Mexico. This marks GE’s largest agreement with Pemex for the supply of subsea high capacity wellheads, GE said.
In accordance with the agreement, GE will supply SMS800 and DWHC 700 high capacity wellheads; similar GE technology has previously been installed at several other Mexican oil fields including Perdido, Lakach and Kunah.
The Gulf of Mexico is a strategic zone for the hydrocarbon industry, since it is estimated to hold more than 50% of Mexico’s potential or prospective resources. However, such reserves are located in deepwater and ultra-deepwater sites, and advanced technology is needed to extract those resources for the benefit of the country, GE said.