GE wins $500 million Saudi oil field contracts

DUBAI, United Arab Emirates - General Electric says it has won contracts worth almost $500 million to provide equipment and services to a remote oil field in Saudi Arabia.

By (AP)

Published: Tue 14 Dec 2010, 6:18 PM

Last updated: Mon 6 Apr 2015, 10:07 AM

GE said on Tuesday it was selected by state oil company Saudi Aramco to outfit the Shaybah oil field with 11 gas turbine generators and other equipment to boost power supply at the site.

Shaybah sits in a remote region in the southeastern part of Saudi Arabia and has the capacity to produce an average of 750,000 barrels of crude per day.

Saudi Aramco plans to use the new equipment to expand output by another quarter million barrels a day and boost the processing of natural gas into liquid form for petrochemical uses.

GE plans to ship the equipment in the first half of 2012.

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