Sace and GE Oil & Gas yesterday signed a memorandum of understanding to support the exports of the company active in the supply of technologies and services in the oil & gas sector. The agreement provides that Sace will support the company's exports for an estimated amount of 6 billion dollars for the three-year period 2016-2018. The goal is to finance projects on various continents, in particular Latin America, North Africa, Sub-Saharan Africa, the Middle East and Asia.
The agreement will allow GE Oil & Gas to offer potential international customers lines of credit on competitive terms – guaranteed by Sace – for the purchase of its products and services. Sace also confirms its financial support for the sale of gas turbines of the NovaLT family, 100% made in Italy GE Oil & Gas turbines, some of which have recently been introduced on the global market.
Also yesterday, GE Oil & Gas announced a total five-year investment program of $600 million for the development and production of next-generation gas turbines and centrifugal compressors.
“At GE Oil & Gas we like to say that 'we fuel the future' and having an institutional partner like Sace means just that: to give energy and invest in the future”, commented Lorenzo Simonelli, President and CEO of GE Oil & Gas.
"Today we are proud to renew our support for the growth and innovation path of a company that has been able to exploit Italian skills and know-how to establish itself as an excellence on a global level", said Alessandro Castellano, CEO of Sace.
