GE Oil & Gas Bags $333 Mln Service Contract Extension For Sakhalin-2 LNG Plant

(RTTNews.com) - GE Oil & Gas ( GE ) said it was awarded a 16-year, $333 million service contract extension for Sakhalin-2, one of the world's largest integrated oil and gas projects operating in the harsh subarctic environment of Sakhalin Island in the Russian Far East. According to the company, the service contract extension covers four GE Frame 7EA gas turbines that drive the process trains for Sakhalin's liquefied natural gas or LNG plan and five GE Frame 5 gas turbines that are used for electricity production at the site.

This extension to the Sakhalin Energy-GE contractual services agreement for maintenance and services on Sakhalin Energy's LNG plant gas turbines has been approved by Sakhalin Energy's shareholders and Russian stakeholders.

The GE service agreement, including planned and unplanned outages, parts and repairs, an availability guarantee, remote monitoring and diagnostics and an on-site GE team of technicians, would be supported by GE's technology and services center in the Kaluga region of Russia.

The agreement was announced in the Russia Power event in Moscow, where the company also reached a memorandum of understanding or MOU with the Sakhalin provincial government to develop power generation projects. Sakhalin Energy, a partnership that draws upon global oil and LNG expertise and experience, operates the project under a production sharing agreement with the Russian Federation.

For comments and feedback: contact editorial@rttnews.com

http://www.rttnews.com