GE grows FPSO segment with $1.3B acquisition of Wellstream

GE Oil & Gas is expanding its subsea manufacturing and services portfolio with the $1.3 billion acquisition of Wellstream Holdings. The move also expands the company’s presence in the deepwater production regions of Africa, Asia and Brazil.

Claudi Santiago, president and CEO, GE Oil & Gas said, "Wellstream's people, technology and customer relationships, including those in Brazil, are an excellent addition to the GE Oil & Gas subsea portfolio, complementing our existing drilling and production product and service lines.”

The acquisition allows GE Oil & Gas to grow in the floating production, storage, and offloading offshore segment of deepwater oil and gas production and includes the acquisition of Wellstream’s manufacturing facility in Niterói. 

Source:  GE Oil & Gas

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