Coal, Cogeneration, Gas, Gas Turbines, O&M

CEPSA signs maintenance agreement with GE for gas turbines at four sites in Spain


ATLANTA, June 5, 2003 — GE Power Systems has signed an agreement valued at approximately US$5.6 million to provide maintenance services for five gas turbines at four different oil refineries and petrochemical plants located throughout Spain.

The sites are owned by Compania Espanola de Petroleos, S.A. (CEPSA), an international oil and gas company based in Madrid, Spain.

Two of the plants are located in San Roque, Cadiz, one is in Huelva and the fourth is in Santa Cruz de Tenerife, Canary Islands. There are two GE gas turbines at one of the San Roque facilities, and one machine at each of the other plants.

Under the terms of the agreement, GE will provide all parts, technical advisory services and repair services for planned and unplanned maintenance of the five gas turbines. The agreement will cover a maintenance period of approximately six years.

All of the units are MS6001B machines originally manufactured by Alstom Gas Turbines and are site-rated at approximately 40 megawatts each. They are operating in a cogeneration mode, producing steam for use in the refinery processes and power for internal use or for sale to the grid.

“Our mission is to deliver operational solutions to meet our customers’ energy needs and mitigate the associated risks,” said Magued El Daief, General Manager, GE Energy Services Sales Europe. “GE contractual service agreements provide price predictability, operational flexibility and best-in-class turbine reliability and performance over the life of the agreement.”

GE currently has CSAs and other service agreements in place at more than 580 sites around the world.

CEPSA (www.cepsa.com) has operated in the energy sector since 1929, when it was established as the first private oil company in Spain. Operating on several continents, CEPSA’s activities include exploration, production, refining, marketing, petrochemicals and plastics.

About GE Power Systems

GE Power Systems (www.gepower.com) is a supplier of power generation equipment, energy services and management systems, with 2002 revenues of nearly $23 billion. Based in Atlanta, GA, GE Power Systems provides equipment, services and management solutions across the power generation, oil and gas, distribution power and energy rental industries.