NAILSEA, UK - April 28, 2008 :- - VetcoGray, a GE Oil & Gas business, hosted customers from around the world on April 24 and 25 to celebrate 25 years of subsea engineering achievements at the company's Nailsea site. Activities included a technology seminar and a gala dinner, highlighted by the announcement that a new, multi-million dollar hyperbaric test centre has been approved for the Nailsea facility.

Located next to the existing assembly and test facilities, the new world-class hyperbaric test centre to simulate operational conditions encountered at the seabed. VetcoGray's subsea control modules will be rigorously tested to identify any dormant fault conditions that otherwise would be detected only after the subsea control module was installed on the sea floor.

Dave Tucker, Chief Operating Officer of VetcoGray, noted: "Over the next five years, most of our projects will involve testing of equipment at depths of 3,000 meters. But the trend in the industry is toward applications in deeper water. Our new facility will have a test capability of 4,000 meters, enabling us to address the future needs of our customers".

A full-time project manager has been appointed to oversee the planning permission phase leading up to the first production test at the new centre, which is scheduled for Q2 2009.

The April 24-25 celebration marked the 25th anniversary of the first subsea control system delivered from the then-GEC Marconi group in Nailsea producing first oil on the BP Magnus project. Since then, the VetcoGray Controls business based in Nailsea has undergone a series of name and ownership changes, and in February of 2007, the business became part of GE Oil & Gas. "One thing has remained constant throughout the last 25 years, however, and that is our commitment to deliver subsea engineering excellence to our customers," said Dean Arnison, Director of Controls & Informatics for VetcoGray.

During the two-day technology seminar, over 50 guests participated in 14 interactive working sessions. They covered subsea control system development over the past quarter of a century, and looked forward to high-tech developments that are expected to change the industry. The second day also included tours of the manufacturing facility at Nailsea.

Three invited speakers representing more than a century of experience with several major oil companies - including BP, Shell, Esso, Exxon and Total - discussed the industry changes they have seen, and how their companies are gearing up for the next wave of technology implementation. VetcoGray speakers addressed such issues as the evolution of the subsea electronic module and subsea communications topology, all-electric trees and controls, and reliability.

The evening of April 24 featured a gala dinner on board Brunels' ss Great Britain ship, moored in dry dock at Bristol. The first ocean-going vessel to have an iron hull and a screw propeller, the ss Great Britain was the largest vessel afloat when it was launched in 1843. The ship was designed by Isambard Kingdom Brunel, one of Britain's best-known engineers who helped to revolutionize public transportation and modern day engineering.

About VetcoGray

VetcoGray (www.geoilandgas.com/vetcogray) is a GE Oil & Gas business specializing in upstream drilling and production technology for the onshore, offshore and subsea oil and gas industry. The company's 5,500 professionals are part of the GE Oil & Gas team that has provided advanced technology products and services for production, LNG, pipelines, storage, refinery and petrochemicals for more than 100 years.

About GE's Oil & Gas business

GE's Oil & Gas business (www.ge.com/oilandgas) is a world leader in advanced technology equipment and services for all segments of the global oil and gas industry. With headquarters in Florence, Italy, and operations in more than 70 worldwide locations, the company offers complete solutions for production, LNG, transportation, storage, refineries, and petrochemicals, as well as pipeline integrity solutions including pipeline-related software and pipeline asset management. Through its acquisition of VetcoGray and Hydril Pressure Control, GE Oil & Gas has added products, systems and services for drilling, completion and production within onshore, offshore and subsea applications.

For more information, contact: