RIO DE JANEIRO – GE (NYSE:GE) has opened its $500-million GE Brazil Technology Center in Rio de Janeiro, which will focus on developing advanced subsea oil and gas technology. The center, GE’s first in Latin America, will be a hub for the region and is expected to employ as many as 400 researchers.
Through the GE Brazil Technology Center, GE is engaged with several of its oil and gas customer partners to develop all the pieces that will make subsea oil and gas processing facility a reality. GE has announced the first of these efforts, unveiling initial plans to work with customers Petrobras and BG Group.
Currently, offshore oil and gas processing happens on platforms on the surface of the sea, often miles from wellheads that are at the bottom of the ocean. However, placing power and processing equipment next to the wellheads on the sea floor makes the job of extracting the oil and pumping it to the surface easier and safer, said GE, as well as being environmentally sound and cost efficient.