GE: Over $1 Billion In New Orders Announced At 2012 GE Oil & Gas Annual Meeting

GE's GE Oil & Gas announced new projects worldwide totaling nearly $1.3 billion in equipment and service contracts. The announcement was a highlight of the opening of the 2012 GE Oil & Gas Annual Meeting in Florence, which brings together leaders from around the globe to explore advanced technology solutions for all segments of the oil and gas industry. Among the new projects announced: Under contracts totaling nearly $1 billion, GE will supply a wide range of equipment and services for the Ichthys LNG project in Western Australia, being developed by INPEX Corporation and Total. GE 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. GE Oil & Gas will supply associated gas utilization technology for TNK-BP’s Verkhnechonsk oil and gas field in Eastern Siberia. The project calls for gas re-injection into an underground storage area for further reuse, rather than flaring, or wasting, that gas. GE has been selected to provide key equipment for a floating oil production, storage and offloading platform being built to develop the Guará Norte section of the Tupi oilfield in Brazil’s Santos oil basin. Additional announcements include GE has signed a global frame agreement with Shell Global Solutions to supply compressors and associated services for Shell’s projects worldwide over the next six years.