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Under the new contract, GE will supply five 130MW Frame-9 gas turbines to meet the power generation needs of Barrow Island's gas treatment and liquefaction facilities.
In addition, GE's drilling and production business will supply the subsea production system which will be installed 60-140km offshore Barrow Island.
The new contract adds to the $US400 million contract secured last October for the supply of three compression trains for LNG production and six compression trains for carbon dioxide sequestration.
GE chief executive officer Claudi Santiago said the company was pleased to have been again selected by Chevron.
"These further contract wins strengthen our partnership role in the project, confirming our technology position which is built on a proven, diverse and integrated solutions portfolio," he said.
The gas turbines will be manufactured in France and Italy before being shipped to Australia between July 2012 and mid-2013.
The subsea equipment will be managed from GE's Perth office with equipment manufactured around the world. First deliveries of the subsea equipment are expected in the second quarter of 2011.