GE Oil & Gas Technology to Help Statoil Extend Life of North Sea Oil Field


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ABERDEEN, UK - September 4, 2007- Four gas turbine-driven compression trains to be upgraded by GE Oil & Gas will help Statoil ASA of Stavanger, Norway extend the life and the production of the Statfjord oil field in the North Sea.

GE will provide new compressor internals for four compression trains for Statoil's existing B and C platforms in the Statfjord field, which straddles the border between the Norwegian and British sectors in the Tampen area in the northern part of the North Sea. The trains will be dedicated to recompression and gas lift services.

"The wellhead pressure is dropping gradually over time, as reservoir pressure maintenance is stopped," said Jeff Nagel, Vice President GE Oil & Gas Global Services. "Extensive modification of the equipment on the platforms is required to adapt to the continuing decline in wellhead pressure and to maintain production from the oil field."

From its manufacturing facilities in Florence, Italy, GE Oil & Gas will supply a total of 13 BLC centrifugal compressor internals, 4 BCL flange to flange compressors, gearbox and couplings for the project. The equipment will be installed during the summer of 2009. EPC contractor for the project is Aker Kvaerner, also of Stavanger, Norway.

An integrated oil and gas company based in Norway, Statoil is the leading operator on the Norwegian continental shelf. The company is one of the largest net sellers of crude oil in the world, and a major supplier of natural gas to the European continent. Statoil is represented in 34 countries, with exploration and production activities in 15 of them.

About GE's Oil & Gas business

GE's Oil & Gas business is a world leader in advanced technology equipment and services for all segments of the global oil and gas industry. Based in Florence, Italy, the company offers complete solutions for production, LNG, transportation, storage, refineries, and petrochemicals, as well as pipeline integrity solutions including pipeline inspection and pipeline asset management. Through its recent acquisition of VetcoGray, GE Oil & Gas has added products, systems and services for onshore and offshore drilling, completion and production to its portfolio.

For more information, please contact:
Gabriele Peri or Sara Hassett
GE Oil & Gas
+39 055 423 8280/3361
Mobile: +39 348 2740230
gabriele.peri@ge.com
sara.hassett@ge.com

Ken Darling or Howard Masto
Masto Public Relations
+1 518 786 6488
kenneth.darling@ge.com
howard.masto@ge.com

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