Chevron Awards GE Oil & Gas High-Tech, Offshore Gulf of Mexico Contract

HOUSTON, TEXAS - - GE Oil & Gas will supply three customized aeroderivative gas turbine-generator modules to provide reliable electric power for a new Chevron floating production unit that will produce oil and gas from the Jack and St. Malo fields in the Gulf of Mexico, approximately 280 miles south of New Orleans and at a water depth of approximately 7,000 feet.

GE will provide three LM2500+G4 gas turbine generator modules, each mounted on a three-point support base plate, designed with marine corrosion-resistant materials to overcome footprint restrictions and withstand pitch, roll and acceleration forces anticipated for a floating production unit operating in deep waters.

Marco Caccavale, North America region leader—turbomachinery, GE Oil & Gas said: “We are delighted to have been selected by Chevron for this important Gulf of Mexico project. To optimize reliable performance and efficiency and mitigate the considerable footprint restrictions offshore, we have design-engineered three unique modular solutions featuring GE aeroderivative gas turbine technology at their core. This topside, offshore project reflects GE’s ability to supply mission-critical equipment across key segments of the oil and gas value chain and builds on our track record of supplying fixed and floating projects worldwide, including for projects offshore Angola, Brazil, China and Norway.”

The LM2500+G4 gas turbines will be manufactured by GE Aero Energy in Evendale, Ohio, while the generator package assembly and testing will take place at GE Oil & Gas’ facilities in Massa, Italy. Shipment of the equipment is scheduled to start in December of 2011, with commercial startup planned by early 2013.

Chevron’s initial development of the Jack and St. Malo fields will be comprised of three subsea centers tied back to a hub production facility with an initial capacity of 170,000 barrels of oil and 42.5 million cubic feet of natural gas per day.

About GE Oil & Gas

GE Oil & Gas (www.ge.com/oilandgas) is a world leader in advanced technology equipment and services for all segments of the oil and gas industry, from drilling and production, LNG, pipelines and storage to industrial power generation, refining and petrochemicals. GE Oil & Gas also provides pipeline integrity solutions, including inspection and data management, and designs and manufactures wire-line and drilling measurement solutions for the oilfield services segment. GE Oil & Gas exploits technological innovation from other GE businesses, such as aviation and healthcare, to continuously improve oil and gas industry performance and productivity. GE Oil & Gas employs more than 20,000 people worldwide and operates in over 100 countries.

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.