StatoilHydro, GE sign $300-million agreement

StatoilHydro has signed two frame agreements worth a total of $300 million with GE Oil & Gas Global Services for compression equipment.

Offshore staff

FLORENCE, Italy –StatoilHydro has signed two frame agreements worth a total of $300 million with GE Oil & Gas Global Services for compression equipment. StatoilHydro has more than 100 gas turbine drivers operating on the Norwegian continental shelf.

Under the new frame agreement, equipment will be manufactured at GE's Florence and Massa, Italy, facilities which have full load testing capabilities to replicate on site conditions. Shipments are expected to begin in early 2009, while the first start-ups are anticipated for the 2010-2011 timeframe.

01/31/2008

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