GE Signs $3 Billion in New Orders
General Electric Co. (GE) has announced a series of new orders to its energy business totaling a whopping $3 billion. The deals are coming from all over the world and range from equipment for natural gas production to electrical grid technology.
"Energy technologies—from exploration to power generation—are in high demand by our customers, particularly in emerging markets," GE Vice Chairman John Krenicki said.
The deals include:
-$800 million in orders for wind and natural gas turbines in Brazil
-A $300 million contract for natural gas turbines and services at two Cairo, Egypt power plants
-An up to $230 million contract for oil and gas drilling and production equipment with Brazil’s OGX Petroleo e Gas
-A $40 million contract to provide BP with pumps and engines for oil operations in Iraq
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Other deals include countries like Indonesia, Italy, Ecuador, Canada and Australia, although the company has not publicly stated how much each of those deals is worth.
The agreements include providing tech support for a Royal Dutch Shell liquefied natural gas platform in western Australia. The company is also teaming with Anheuser-Busch InBev to promote energy and water efficiency at the company’s China facilities.
In early 2011, GE took on numerous acquisitions, including buying out companies like Converteam, turbine manufacturer Dresser Inc., petroleum services company Wellstream Holdings, Lineage Power Holdings and John Wood Group’s oil well support business.
