From GE:

GE Oil & Gas and Statoil Sign Global Subsea Exploration Wellhead Frame Agreement

September 10, 2015

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• GE will be providing wellhead equipment to Statoil with improved fatigue resistance for harsh offshore applications
• Frame Agreement is for four years with option of two, two-year extensions
• Recent Recommended Practice from DNV GL  encouraging product standardization used on this project

Aberdeen, UK – 10 September, 2015.  GE Oil & Gas (NYSE:GE) has been awarded a four-year framework agreement to provide wellhead equipment and associated services to Statoil with the option of two, two-year extensions.

GE Oil & Gas will provide its DWHC MS-700 SFX and MS-800 SFX wellhead systems to Statoil. The wellhead systems are designed to be a holistic solution to address fatigue and improve operating life based on, field-proven solutions. The GE SFX (Standardized Fatigue Resistant Solution) wellhead systems will allow all year operations in regions with in harsh environments.

GE Oil & Gas’s SFX wellhead technology is designed to directly address concerns about fatigue in the subsea sector, as exploration has expanded into harsh and remote environments. The need for standardized and robust subsea equipment is growing, as highlighted in the recent Recommended Practice 0034 published by DNV GL. The RP, adopted for use in this agreement, contains requirements for qualification, manufacturing and testing of steel forgings, and is a significant step in increasing standardization of subsea equipment. As a result of alignment to the DNV practice along with design and material upgrades, SFX provides repeatable quality in a reduced lead time.   

Rod Christie, CEO of Subsea Systems, GE Oil & Gas, said: “We are delighted to be teaming up with Statoil on this agreement, which further strengthens our relationship. With offshore operations moving into more extreme environments, the need for more cost-efficient and optimized solutions is paramount.  Our equipment can lead the industry in extending the life of offshore assets.”

Equipment from GE Oil & Gas will be built in the company’s facilities in Montrose, UK, Houston, Texas, Batam, Indonesia and Jandira in Brazil.

About GE

GE (NYSE:GE) imagines things others don’t, build things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com

About GE Oil & Gas

GE Oil & Gas is inventing the next industrial era in the oil and gas sector. In our labs and factories, and in the field, we constantly push the boundaries of technology to solve today’s toughest operational & commercial challenges. We have the skills, knowledge and technical expertise to bring together the physical and digital worlds to fuel the future. Follow @GE_OilandGas.

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