GE Oil & Gas said on Thursday it will supply Abu Dhabi Company for Onshore Oil Operation (ADCO) with its advance technology and services together with ABB in supplying the variable speed drive system (VSDS) electrical scope, including motors, transformers and converters.
It has sign more than $80 million of agreement to supply compressors, electrical system an services to be used for new gas lift and gas injection facilities at the Asab and Sahil fields.
The said contract hope to increase its production to 1.8 million barrels per day, which owned 60 % by the Abu Dhabi National Oil Company and 40 % owned by Shell, Total, BP, ExxonMobil and Partex.
Recently, GE became the first ecomagination-certified innovative waste heat recovery system from GE Oil & Gas, which can enable a gas turbine to produce additional power without any additional emissions and no water use, to help customers meet environmental challenges.
Shares of GE rose $0.09 or 0.67% at $13.08 in the midday trading.