GE AEROSPACE 
By - Contracts with Nexen Petroleum Total more than $170
- Golden Eagle Area Development Project Reinforces GE Presence in the North Sea
FLORENCE, ITALY-January 30, 2012-GE Oil & Gas (NYSE: GE)
surface and subsea production equipment, control systems and
services have been selected for the Nexen Golden Eagle Area
Development project in the United Kingdom's central North
Sea. Contracts with the project operator, Nexen Petroleum
U.K. Limited, could total more than $170 million over the
life of the development, GE reported at the 2012 GE Oil & Gas
Annual Meeting being held Jan. 30-31 in Florence.
Facilities for the Golden Eagle development will comprise a
combined production, utilities and accommodation platform
linked to a separate wellhead platform, with 16
platform-based wells, a phased subsea well development and
associated in-field and export pipeline infrastructure.
Under one contract, GE will supply wellheads, Xmas trees and
additional equipment for subsea and platform applications.
Under a separate contract, GE will provide subsea control
systems, including GE's latest award winning SemStar5 subsea
electronics modules. The project schedule calls for equipment
to be shipped this year and installed during 2013, with
commercial production to begin in late 2014.
"The Golden Eagle project builds on our existing relationship
with Nexen and follows successful projects on the Buzzard and
Ettrick field developments," said Rod Christie, vice
president of GE Oil & Gas Subsea Systems. "We used a flexible
approach to the configuration of the subsea, surface and
capital drilling equipment, enabling Nexen to tailor the
equipment designs to meet the specific needs of this
project."
The Golden Eagle project reinforces GE's role as a leading
supplier of equipment and services for the U.K. North Sea
sector. In addition to providing equipment for many of the
North Sea's offshore exploration and production projects, GE
also continues to invest in the region, opening a new
hyperbaric testing hall and a refurbished electrical and
electronics assembly plant in Nailsea, United Kingdom, during
2011. Two years earlier, GE opened a subsea monitoring and
remote technology center at the Nailsea site.
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