GE Oil & Gas Wins $20M in Subsea Equipment Orders by Maersk Oil for UK North Sea Projects

GE Oil & Gas announces it has been issued orders to supply seven (7) subsea tree and wellhead systems, utilizing the VetcoGray MHXT(photo) tree and VetcoGray SG-5 wellhead system, by Maersk Oil North Sea UK Limited (Maersk Oil) for deployment in the UK North Sea. The total value of the awards is expected to be approximately $20 million.

The orders are made under a frame agreement signed with Maersk Oil which runs for a five-year period. Under the agreement GE Oil & Gas continues to supply subsea wellheads, trees and tubular products to Maersk Oil for exploration and development projects.

The subsea trees will be manufactured at the GE Oil & Gas plant in Aberdeen, Scotland and the SG-5 wellhead systems will be manufactured at the Montrose service facility, Scotland. These systems are set for a phased delivery commencing September 2011.

Frame agreements provide a standardized scope of supply designed to enhance manufacture and minimize manufacturing time and cost for the duration of the agreement.

GE Oil & Gas is a major supplier of subsea hardware to the oil and gas Industry and looks forward to supporting Maersk Oil in its ongoing development requirements over the next five years.

About GE Oil & Gas

GE Oil & Gas is a world leader in advanced technology equipment and services for all segments of the oil and gas industry, from drilling and production, LNG, pipelines and storage to industrial power generation, refining and petrochemicals. GE Oil & Gas also provides pipeline integrity solutions, including inspection and data management, and design and manufacture wire-line and drilling measurement solutions for the oilfield services segment. As part of its ‘Innovation Now’ customer focus and commitment, GE Oil & Gas exploits technological innovation from other GE businesses, such as aviation and healthcare, to continuously improve oil and gas industry performance and productivity. GE Oil & Gas employs more than 12,000 people worldwide and operates in over 100 countries.

About GE

GE  is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide.

[mappress]

Source:GE, February 2, 2011;