GE Oil & Gas (GE) Awarded $70 Million Contract by StatoilHydro (STO)
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GE Oil & Gas (NYSE: GE) has been awarded a contract worth more than $70 million by StatoilHydro (NYSE: STO) to upgrade a suite of subsea control systems for StatoilHydro's Tordis Vigdis Controls Modification (TVCM) project. The solution will incorporate GE's award-winning next-generation subsea electronics module--the VetcoGray SemStar5.
The TVCM project will be the first globally to deploy the VetcoGray SemStar5 subsea electronics module and has the key objectives of higher subsea reliability, extended service life and improved environmental monitoring. The award-winning next-generation VetcoGray SemStar5 subsea electronics modules are being developed and manufactured at GE Oil & Gas' Nailsea facilities in Bristol, U.K., along with the VetcoGray ModPod subsea control modules, and will be shipped to Norway for installation offshore in 2010 and 2011.
General Electric Company (GE) is a diversified technology, media and financial services company. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products.[SM]
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