| HOUSTON, UNITED STATES — May 06, 2009 — GE Oil & Gas today announces that it has been awarded a five-year contract to deliver Subsea Operations Services (SOS) to StatoilHydro, the Norwegian based oil and gas company. The contract has an estimated value of between US$25- $30 million per year and will be managed by GE Oil & Gas in Dusavik, Stavanger, Norway. The scope of services to be provided under the agreement relate mainly to the installation and operations phases of StatoilHydro’s subsea fields, including: engineering, procurement, the production of equipment and tools, and electro and mechanical workshop services for corrective and planned maintenance in subsea drilling. Servicing and maintenance of tools and equipment will involve a team of between 100-120 people and will be performed from both the GE Oil & Gas Stavanger facility and across multiple customer sites onshore and on the Norwegian continental shelf. “This significant contract win is an outcome of a long-standing cooperation and partnership between StatoilHydro and GE Oil & Gas. It reflects the strength of our Stavanger subsea equipment and services facility and our proven ability to successfully deliver results in the world’s most challenging subsea environments”, said Jan Henry Melhus, GE Oil & Gas Manager for Regional Services. The agreement will be used to determine the scope of service work to be conducted on future StatoilHydro field developments, as well as the operation of existing fields that currently implement GE Oil & Gas equipment and services. This includes GE Oil & Gas’ previous delivery to projects such as Snorre B, Snøhvit, Tordis, Vigdis, Troll Olje and the Troll Pilot subsea processing plant. Visit GE Oil & Gas at the OTC 2009, Booth # 1117. About GE Oil & GasGE 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. We also provide pipeline integrity solutions, including inspection and data management. As part of our 'Innovation Now' customer focus and commitment, GE Oil & Gas leverages 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 12,000 people worldwide and operates in over 70 countries. About StatoilHydroStatoilHydro is an integrated technology-based international energy company primarily focused on upstream oil and gas operations. Headquartered in Norway, the company has more than 30 years of experience from the Norwegian continental shelf, pioneering complex offshore projects under the toughest conditions. The company’s culture is founded on strong values and a high ethical standard. The aim is to deliver long- term growth and continue to develop technologies and manage projects that will meet the world’s energy and climate challenges in a sustainable way. StatoilHydro is listed on NYSE and Oslo Stock Exchange. For more information, contact:
Gabriele Peri For Norwegian media:
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