GE also signs MoU to support the training of Omani nationals for next 10 years

Builds on strong partnership with PDO in supporting enhanced oil recovery

Muscat, Sultanate of Oman; December 20, 2015

GE Oil & Gas (NYSE: GE) has won two contracts from Petroleum Development Oman (PDO) for the supply, testing, installation and commissioning of a fleet of electric motor driven centrifugal compressors to be deployed across PDO's Saih Nihayda Depletion Compression Phase II, Kawther Depletion Compression Phase II, Yibal Khuff Depletion, Burhaan West and Fahud Gaslift Compression projects. The contract also covers the aftermarket services for these new compressors as well as the existing GE compressor fleet.

The contracts were signed at the Business Opportunities Forum held in Muscat under the auspices of His Highness Sayyid Haitham bin Tariq Al Said, and organized by the Oman Chamber of Commerce and Industry to promote the efforts and programs of the private sector in the field of In-Country Value creation.  

In addition, GE Oil & Gas also signed an agreement with PDO to extend training and development support for Omani nationals over the next 10 years, underlining its commitment to localization and the development of human capital in Oman.

 PDO Managing Director Raoul Restucci said: "We are making significant investments in strengthening our infrastructure that will enhance our productivity and help create new jobs for Omani nationals. In addition, we are focusing on strengthening local supply chain and maintenance  capabilities that support Omani talent development. The contracts with GE Oil & Gas, a long-term partner of PDO, will add significant value to the national economy." 

Rami Qasem, President & CEO, GE Oil & Gas Middle East, North Africa and Turkey, said: "Oman is one of the strategic growth hubs for GE Oil & Gas in the Middle East where we have achieved over 90 percent Omanization. The new contracts build on our commitment to deliver cutting edge technology, support localized innovation and promote talent development in Oman - a key element of how GE does business in the region."

As Oman focuses on projects to enhance oil and gas production, GE Oil & Gas is investing in its partnership with PDO by offering advanced technology and local services capability in-country.

GE Oil & Gas  developed the widest range of advanced technology centrifugal compressors (over 30,000 HP) as well as re-injection compressors catering for the harshest and most corrosive gas services, with delivery pressures as high as 10,000 psi (700 bar).

With an active presence since 1975, GE's focus in Oman has always been to support the country in fulfilling its vision. GE has its country office in Muscat and an Electric Submersible Pumps (ESP) Field Service & Repair Center in Nimr. Serving as an energy technology partner of the Sultanate, over 300 advanced pieces of GE equipment are deployed in the country's oil & gas sector.

GE Oil & Gas has also rolled out dedicated training programs for Omani nationals at the Florence Oil & Gas University, a proof-point of ongoing support of Omanization and human capital development. GE has also acquired land in Nizwa to develop a workshop for local repairs and services to strengthen its local capabilities.  

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GE (NYSE: GE) is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Oil & Gas:
GE Oil & Gas works on the things that matter in the oil and gas industry.  In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future. www.geoilandgas.com. Follow GE Oil & Gas on Twitter @GE_OilandGas

Stephen McCallion
GE Oil & Gas Communications MENAT Leader
+9714 8991777
stephen.mccallion@ge.com

For more information, please contact:                                                                                          
Caroline Wehbeh                                              
GE Communications Leader, North Africa
+9714 4296318
caroline.wehbeh@ge.com

Kelly Home/Nivine William                                                       
ASDA'A Burson-Marsteller
+9714 4507 600
kelly.home@bm.com / nivine.william@bm.com

© Press Release 2015