GE Oil & Gas Awarded Statoilhydro Contract

Tuesday, May 12, 2009

GE Oil & Gas announced that it has been awarded a five-year contract to deliver Subsea Operations Services (SOS) to StatoilHydro, the Norwegian based oil and gas company. The contract has an estimated value of between $25- $30m per year and will be managed by GE Oil & Gas in Dusavik, Stavanger, Norway.

The scope of services to be provided under the agreement relate mainly to the installation and operations phases of StatoilHydro’s subsea fields, including: engineering, procurement, the production of equipment and tools, and electro and mechanical workshop services for corrective and planned maintenance in subsea drilling.

Servicing and maintenance of tools and equipment will involve a team of between 100-120 people and will be performed from both the GE Oil & Gas Stavanger facility and across multiple customer sites onshore and on the Norwegian continental shelf.

The agreement will be used to determine the scope of service work to be conducted on future StatoilHydro field developments, as well as the operation of existing fields that currently implement GE Oil & Gas equipment and services. This includes GE Oil & Gas’ previous delivery to projects such as Snorre B, Snøhvit, Tordis, Vigdis, Troll Olje and the Troll Pilot subsea processing plant.

(www.ge.com/oilandgas)

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