FAT CATS

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afterhours: DRC: 37.10 Dresser-Rand Selected to Supply $154 Million of Equipment to BP for FPSO for Skarv Field in the Norwegian Sea
Tuesday July 31, 8:27 pm ET

Shares Outstanding6: 85.83M
Float: 85.26M


HOUSTON, July 31 /PRNewswire-FirstCall/ -- Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC - News), a global supplier of rotating equipment and aftermarket parts and services, announced today that it will supply advanced turbomachinery for a floating, production, storage and offloading (FPSO) vessel.


The award is estimated at more than $154 million USD. Dresser-Rand will supply gas turbine packages for power generation and gas compression. Dresser-Rand booked the order in May 2007.

"We are very pleased to have been awarded this contract," said Jesus Pacheco, Dresser-Rand's executive vice president, New Equipment Worldwide. "The award is further evidence of our leading role as a total solution provider of power generation and gas compression equipment for offshore platforms. Jim Heid, Dresser-Rand's vice president, Business Solutions, commented that "The contract will be executed under the agreement that exists between Dresser-Rand and BP, one of its key alliance clients, and reaffirms the value of alliance agreements to both Dresser-Rand and our clients."

Dresser-Rand will provide six DATUM® centrifugal compressor trains driven by variable speed electric motors for gas compression service, four generator sets for main power generation and control panels for each equipment package.

The electric motor-driven gas compressor packages include transformers and frequency converters for the drive system. The packages include complete three-point mounted baseplates, full enclosures for noise protection, and all auxiliary systems. String testing for the equipment will be conducted at the Dresser-Rand facility in Le Havre, France.

The power generation packages feature three point mounted, torque tube baseplates, noise enclosures, and all auxiliary systems. The equipment will be full-load string tested at Dresser-Rand's facility in Drammen, Norway.

About Dresser-Rand

Dresser-Rand is among the largest suppliers of rotating equipment solutions to companies that operate in the worldwide oil, gas, petrochemical, and process industries. Dresser-Rand operates manufacturing facilities in the United States, France, Germany, Norway, and India, and maintains a network of 26 service and support centers worldwide.

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements concerning The Company's plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends, executive compensation and other information that is not historical information. The words "anticipates," "believes," "expects", "intends," and similar expressions identify such forward-looking statements. Although the Company believes that such statements are based on reasonable assumptions, these forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include, among others, the following: material weaknesses in its internal controls; economic or industry downturns; its inability to implement its business strategy to increase aftermarket parts and services revenue; competition in its markets; failure to complete or achieve the expected benefits from, any future acquisitions; economic, political, currency and other risks associated with international sales and operations; loss of senior management; the Company's brand name may be confused with others; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its clients; failure to negotiate new collective bargaining agreements; ability to operate as a stand-alone company; unexpected product claims and regulations; and infringement on its intellectual property or infringement on others' intellectual property. These and other risks are discussed in greater detail in the Company's filings with the Securities and Exchange Commission at http://www.sec.gov. Actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. The Company can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on results of operations and financial condition. The Company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. For information about Dresser-Rand, go to its website at http://www.dresser-rand.com.

DATUM® is a registered trademark of Dresser-Rand Company.

Investor Contact: Blaise Derrico, Director Investor Relations [phone]



DRC-FIN





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Source: Dresser-Rand


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