GE Energy Business Signs $3B In New Orders

NEW YORK (AP) — General Electric Co. said Tuesday its energy business has received a series of new orders worth more than $3 billion.

The deals involve projects around the world and range from 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 power plants in Cairo;

—A contract worth up to $230 million for oil and natural gas drilling and production equipment with Brazil-based OGX Petroleo e Gas.

—A $40 million contract to provide pumps and engines for BP's oil operation in Iraq;

GE also announced a variety of other contracts in Indonesia, Italy, Ecuador, Canada and Australia. GE didn't say how much those individual contracts were worth.

They include an agreement to provide technological support for a liquefied natural gas platform that's part of Royal Dutch Shell's Prelude project off the coast of western Australia. GE also said it is in a new partnership with Anheuser-Busch InBev to promote energy and water efficiency at the company's facilities in China. And it will work on natural gas power projects in Iraq, Italy and Indonesia.

The deals capitalize on $11 billion in recent acquisitions. Earlier this year, GE went on a spending spree, snapping up equipment maker Converteam, turbine builder Dresser Inc., petroleum service firm Wellstream Holdings, power provider Lineage Power Holdings and John Wood Group's oil well support business.

GE shares rose 6 cents to $16.24 in premarket trading.

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