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Solar Turbines Announces Long-Term Strategic Agreement with CNOOC

Posted on September 1, 2006

Executives from Caterpillar Inc. subsidiary Solar Turbines and from China National Offshore Oil Corporation (CNOOC) have signed a long-term strategic agreement between the two companies. Under terms of the strategic agreement, Solar Turbines will be a CNOOC preferred aftermarket supplier for goods and services for Solar Gas Turbines equipment. China National Offshore Oil Corporation is a state-owned oil company authorized to work with foreign enterprises for the exploration and development of offshore petroleum resources.

"This is an important and positive step in the continued development of our ongoing relationship with CNOOC," said Steve Gosselin, Solar Turbines president and Caterpillar vice president. "As China continues its phenomenal growth and development, this agreement will position Solar Turbines to provide CNOOC and its customers with unparalleled service and support."

Solar Turbines Vice President Dave Esbeck and CNOOC Vice President Zhou Shou Wei participated in a signing ceremony at CNOO's headquarters in Beijing. "CNOOC is a valued customer as well as an efficient world-class oil and gas company that is vital to China's rapidly developing petroleum industry," Esbeck said. "This strategic agreement will help Solar provide even greater service to CNOOC, improving the efficiency of energy production in China while also ensuring that state-of-the-art Solar products continue to provide reliable service to CNOOC."

CNOOC already has a large fleet of Solar gas turbine generator sets and compressor units supporting its offshore oil and natural gas operations in China and elsewhere in Asia. The goal of the long-term strategic agreement is to provide CNOOC with a total lower cost option and the greatest value for the continued service and maintenance of the Solar Turbines fleet. The new agreement should also mean any needed or scheduled service will be completed in a more timely and efficient manner.

For more information: www.cat.com

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