NYSE-listed GE Oil & gas, a subsidiary of the US conglomerate GE, on Monday announced what it says is an unprecedented global maintenance contract for SBM Offshore’s entire fleet of FPSOs (floating production storage and offloading vessels).
Under the deal, GE Oil & Gas (which is headquartered in London in the UK), will provide spare parts, depot overhauls, field services and digital solutions to SBM’s fleet for GE turbines, generators, compressors and auxiliary systems already installed.
Dutch firm SBM is a world leader in leasing and operating FPSOs, mainly in Brazilian and African waters.
The value of the deal was not specified although GE Oil & Gas said it was part of a series of agreements with several clients worth a total of $700m.
