GE Oil & Gas Signs $30 Million Frame Agreement with Shell Brazil

GE Oil & Gas Signs $30 Million Frame Agreement with Shell Brazil

· Estimated Quantity of 26 Subsea Wellhead Systems to be Provided for Deepwater Projects

· Agreement Underlines GE’s Position as a Leading Supplier for Offshore Brazil

RIO DE JANEIRO, BRAZIL—June 14 , 2011—GE Oil & Gas has signed a three-year frame agreement valued at approximately $30 million to supply 26 subsea wellhead systems and associated services to Shell Brasil Ltda. for exploration and production projects offshore Brazil. The agreement means GE Oil & Gas will supply all Shell Brasil’s requirements for subsea drilling systems for all offshore exploratory and development wells to be drilled by Shell Brasil at least until the end of 2013.

Under the agreement, GE will supply 13 MS-700 Slimbore and 13 MS-700 deepwater high capacity (DWHC) systems. The GE MS-700 is the only subsea wellhead system on the market with metal-to-metal sealing, and has demonstrated high reliability for projects offshore Brazil.

Suheyl Ozyigit, Wells Delivery Manager for Shell Brasil said: “Based on our previous experiences, we are confident that the new agreement with GE will help us to reach our ongoing exploration and production goals. The agreement also meets our delivery requirements, provides competitive pricing and includes substantial local content.”

Fernando Martins, Vice President—Latin America, Drilling & Production, GE Oil & Gas, said: “We’re very pleased to again have been selected to help Shell Brasil achieve its deepwater production goals. The new frame agreement builds upon our successful relationship with Shell Brasil and further supports our growing role as a technology supplier for projects ]]>

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