GE in Angola subsea tie-up

Increasing demand: for subsea equipment off Angola

NASA

related stories

Steve Marshall

 29 January 2013 09:08 GMT

GE Oil & Gas has forged a joint venture with a local contractor in Angola to supply subsea equipment to the country’s expanding offshore sector, while also boosting its position in Iraq and India.

GE and Angolan partner GLS Holding plan to invest an initial $175 million to build a new manufacturing plant at Soyo in Zaire province under their new joint venture, GE-GLS Oil & Gas Angola.

The facility is due to be operational within two years and is set to create hundreds of jobs, with GE pledging to recruit and train mainly Angolan workers as part of a commitment to local content.

“In the growing Angolan oil sector, we see the market favourably as the demand for quality equipment is increasing, which is driving the need for greater manufacturing capacity,” said president of…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index