GE Oil & Gas Awarded $113M Contract for CLOV Offshore Angola
Reflects Strength of Integrated Oil & Gas Portfolio and GE's Continued Commitment to Angola
ABERDEEN, Scotland & LUANDA, Angola - GE (NYSE: GE) has been awarded a $113 million contract to supply gas turbines and compressors for deployment in the CLOV offshore Angola oil and gas fields owned by Sonangol, Angola's national oil company, and operated by Total (40 percent share), ExxonMobil, BP and Statoil.
GE Oil & Gas will supply four LM2500+ G4 SAC aeroderivative gas turbines for power generation and five compressors for a floating production storage and off-loading (FPSO) platform that will play a critical role in CLOV, the fourth development pole in deepwater Block 17 after Girassol, Dalia and Pazflor.
Located around 140 kilometers from Luanda and 40 kilometers northwest of Dalia in water depths ranging from 1,100 to 1,400 meters, CLOV will bring on stream four fields: Cravo, Lirio, Orquidea and Violeta.
Consolidating GE's Role in Angolan Offshore Projects
The announcement coincides with GE Chairman and CEO Jeff Immelt's visit to GE's subsea tree manufacturing and test facility in Aberdeen, Scotland to inspect three GE subsea production trees pre-shipment to Angola. In line with GE's localization strategy, the equipment will undergo local fabrication and assembly in Angola, before deployment in the Block 15 Kizomba Satellites project off the West African coast. GE also is contracted to deliver long-term services to maintain the trees at peak performance levels to help optimize production.
Claudi Santiago, president and CEO, GE Oil & Gas said: "GE is committed to Scotland which serves as a global center of excellence for our drilling and production operations. The shipment of advanced technology subsea trees for Angola's Block 15 Kizomba Satellites project is typical of GE's business-wide 'company to country' localization strategy. This enables GE to support critical infrastructure projects in developing regions on a consistent and sustainable basis through high-end technology transfer, the creation of local jobs and the development of local skills and talent. Today's announcement of a $113 million equipment order for CLOV demonstrates the strength of our integrated oil and gas portfolio across all segments of the industry and reflects our continued commitment to Angola."
Immelt also met with GE Oil & Gas trainee fitters from Angola who are currently in Scotland to take part in an intensive six-month subsea assembly and testing familiarization program being delivered at GE's Aberdeen subsea tree manufacturing and Nailsea, Bristol, England subsea controls facilities.
GE Localization in Angola
GE Oil & Gas has been active in Angola since 1958, and today has more than 300 employees in the country, supporting all of the company's operations from dedicated state-of-the-art gas turbine and subsea equipment operations in Luanda and Cabinda.
GE Oil & Gas expects to recruit an additional 30 local employees in Angola by the end of 2010, to support continued business growth in the region.
About GE Oil & Gas
GE Oil & Gas (www.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, and design and manufacture wire-line and drilling measurement solutions for the oilfield services segment. As part of our '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 (NYSE: 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. For more information, visit the company's website at www.ge.com.
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