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GE Oil & Gas Secures Long-Term Services Contract to Support Yara International's Fertilizer Complex in the Netherlands

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GE Co.
25925 Telegraph Dr.
Southfield, MI, 48034
USA



Press release date: December 16, 2013

CSA Strengthens Longstanding Business Relationship between GE and Yara
Agreement Highlights GE's Strategic Growth in Downstream Industrial Sectors

SLUISKIL, NETHERLANDS — GE Oil & Gas (NYSE: GE) today announced it has signed a 12-year contractual service agreement (CSA) with Yara International ASA, a global chemical company based in Oslo, Norway, to maintain an array of GE rotating equipment at Yara's fertilizer complex in Sluiskil, in the province of Zeeland, the Netherlands.

Under this CSA, GE will provide maintenance and services for 45 compressors, gas and steam turbines and turbo expanders at the Sluiskil site. Yara will benefit from reduced costs for maintenance and GE Oil & Gas' Contractual Services unit's project management skills.

This new agreement is part of a long-lasting business relationship between GE and Yara, which was taken further in 2000 with an extended parts and services frame agreement.

The Sluiskil site includes two gas turbines constantly monitored by GE's iCenter—GE's remote data monitoring center in Florence, Italy—one of the first high-efficiency heavy-duty MS5002E ever installed.

"With a significant number of GE units installed and operating for over decades at our site and with a long term successful working relationship and gaining good experience from a number of turn key maintenance interventions over the years, it was a very logical step for us to confirm predictability, simplification and cost-efficient planning and execution of turn-arounds and overhauls by extending this into a long-term contracted service agreement. It is our expectation that this will further combine the quality and reliability of GE's services with our own resources to achieve even better results in reduced maintenance time and costs and longer duration between maintenance interventions," said Jon Sletten, plant manager of the Yara Sluiskil site.

"As industrial companies look to optimize the efficiency and long-term availability of their production facilities, CSAs at fertilizer plants represent a significant potential downstream growth opportunity," said Girish Saligram, Contractual Services general manager—GE Oil & Gas. "Therefore, our CSA with Yara is an important model for GE's strategic growth in the downstream sector."

Yara is a leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. The main application is fertilizers, while industrial uses and environmental solutions also are important growth segments.

Since 1929, the company's Sluiskil complex has been located on the Ghent-Terneuzen canal, a major waterway opening through the Western Scheldt into the North Sea and connecting to European waterways. As with many European fertilizer complexes, the site's development was linked to the availability of coke oven gas from a neighboring coke factory. Yara's Sluiskil site features Europe's largest installed ammonia and nitrate fertilizer production capacities with three ammonia plants, four CO2 plants, two nitric acid plants, two urea plants and two nitrate granulation plants. Sluiskil has both Yara's and Europe's largest installed ammonia and nitrate fertilizer capacities.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Oil & Gas

GE Oil & Gas is a world leader in advanced technologies and services with 43,000 employees in more than 100 countries supporting customers across the industry—from extraction to transportation to end use. Our unrelenting commitment to the environment, health and safety, quality and integrity defines us: it's The Way We Work. We develop smart solutions for our customers across the oil and gas value chain delivering the innovation, customized service solutions, training programs and technology that helps them to maximize their efficiency, productivity and equipment reliability. We partner with our customers to develop their next generation workforce; help them to fully benefit from the megatrends of natural gas, the growth of subsea and hard-to-reach reserves and the revolution in asset health management. Follow GE Oil & Gas on Twitter @GE_OilandGas.

Media contacts:

Fabio Pianini
GE Oil & Gas
Phone: +39-342-391-3298
Email: fabio.pianini@ge.com

Giovanni Dionori
GE Oil & Gas
Phone: +39-055-458-9169
Email: giovannithomas.dionori@ge.com


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