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VETCOGRAY LAUNCHES NEW SUBSEA WELLHEAD SYSTEM FOR DEEPWATER DRILLING APPLICIATIONS

MS-800 Offers Increased Load Capabilities, Higher Pressure Capacities

FLORENCE, ITALY – February 1, 2008 – Offering increased casing load and higher pressure capacities, VetcoGray, a GE Oil & Gas business, has introduced the MS-800 Fullbore Subsea Wellhead System for deepwater applications. The product announcement was made during the GE Oil & Gas 2008 Annual Meeting this week in Florence, attended by more than 900 global customers.

With the capacity to withstand eight million pounds of load on the wellhead, the MS-800 is designed to help drillers reach deepwater targets in such regions as the U.S. Gulf of Mexico and offshore Brazil. The new system increases the casing load capacity to two million pounds for the first position casing hanger and the 16-inch casing hanger, while also increasing the pressure capacity for the 16-inch hanger from 6500 to 10,000 PSI.

VetcoGray also improved the load ring configuration on all three casing hangers of the MS-800, compared with previous products, to improve actuation.

“We believe all of these capacity and performance improvements will enable the MS-800 to set new standards for the deepwater drilling industry,” said Gary Shaw, Technology Leader for VetcoGray. “We have developed this product in response to the growing industry need for technology to exploit subsea oil and gas fields at depths of 30,000 feet or more.”

The MS-800 has been developed and tested at VetcoGray facilities in Houston, Texas and a 15 KSI version of the system will be available for commercial applications in the second quarter of 2008. A 20 KSI version is scheduled for release later in the year.

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 5,000 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.