ABERDEEN, SCOTLAND---September 6, 2011---GE Oil & Gas (NYSE: GE) subsea systems and services have been selected by Ithaca Energy (UK) Ltd. for the Stella oil and gas field development project in the Central North Sea, GE reported today at Offshore Europe 2011.
Under a contract of $17 million, GE will supply an integrated package of "S" Series shallow water vertical tree (SVXT) systems, controls and SG1 wellheads to be installed using a jack-up rig.
Phase 1 for the Stella project will be four trees for the planned development wells with a possible additional tree for a further well in the area.
The SVXT systems are based upon GE Oil & Gas latest design of the shallow water structured product subsea tree system, smaller and lighter than any traditional shallow water tree system on the market. The SVXT system has been developed for ease of installation, minimal ROV dependency, reduction on weather influenced installation operations due to smart tools, higher load carrying capacities and increased pressure envelopes.
"Our ability to meet the engineering challenges of this project regarding temperature, riser analysis clarifications, pressure ratings and gas lift requirements was a key to receiving this contract," said Matt Corbin, regional leader---United Kingdom and continental Europe for GE Oil & Gas. "The agreement also builds on the good working relationship we established with Ithaca in a previous project."
The scope of the GE contract includes S Series SVXTs, SG1 drill-through wellhead systems and a full services support package comprising rental tools and manpower.
The equipment will be engineered and manufactured at GE's facilities in the United Kingdom with the equipment scheduled for shipment in the fourth quarter of 2012.
Ithaca Energy Inc. and its wholly owned subsidiary Ithaca Energy (UK) Ltd, is an oil and gas exploration, development and production company active in the United Kingdom's Continental Shelf.
About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy---GE Power & Water, GE Energy Services and GE Oil & Gas---work together with more than 90,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.
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