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Aberdeen, Scotland, 2010/05/03 - GE Oil & Gas is pleased to announce the signing of a new frame agreement with Maersk Oil North Sea UK Limited. The new agreement runs from March 1, 2010, for a five-year period (NYSE: GE). NYSE: GE
Under the new agreement GE Oil & Gas will continue to supply subsea wellheads, trees and tubular products for exploration and developed projects in the North Sea. GE Oil & Gas estimates the total value of the agreement to be in excess of $80 million.
Frame agreements provide a standardized scope of supply designed to enhance manufacturing and minimize down time and cost for the duration of the agreement.
GE Oil & Gas is a major supplier of subsea hardware to the Oil & 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 (ge.com/oilandgas) 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. We also provide pipeline integrity solutions, including inspection and data management. As part of our 'Innovation Now' customer focus and commitment, GE Oil & Gas leverages 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.
GE (ge.com) 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.
Ken Darling, Masto Public Relations
P: +1 518 786 6488
Masto Public Relations