GE Delivers Industry Milestone with Supply of High-Tech TLP Tensioner System for Chevron’s Big Foot Project in Deepwater Gulf of Mexico

GE Oil & Gas’ Drilling & Production business has received a contract of approximately $45 million to supply and service the industry’s largest tension leg platform (TLP) marine riser Tensioner Systems to Chevron for deployment in its Big Foot oil and gas field in the deepwater Gulf of Mexico.

A TLP is a vertically moored floating structure suited for use in a wide range of water depths. GE is making key design modifications to develop ‘push-up’ style marine riser Tensioner equipment to enable the Chevron Big Foot oil and gas field TLP to deal with the challenging wave and current movement conditions of deepwater applications. To date, TLPs have been successfully deployed in water depths approaching 5,000 feet. The GE-Chevron Big Foot unit will be the first to operate in depths of 5,200 feet.

Manuel Terranova, senior vice president—global regions and sales, Drilling & Production, GE Oil & Gas said: "For this deepwater application, we are utilizing innovative technology to deliver customized ‘push-up’ style TLP Tensioners that offer Chevron an efficient and reliable solution for their challenging deepwater requirements. We are pleased to be supporting this important Chevron project which will contribute to the stability of future U.S. energy supply.”

The Big Foot TLP will be Chevron’s sixth operated facility in the deepwater Gulf of Mexico and will be located approximately 225 miles south of New Orleans. The TLP will include an on-board drilling rig and will have a production capacity of 75,000 barrels of oil and 25 million cubic feet of natural gas per day. Installation of the TLP is scheduled to begin in November 2012 and first oil is expected in 2014.

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 Energy

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 21^st century energy needs.

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.