HOUSTON, Nov. 16 /PRNewswire-FirstCall/ -- Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC), a global supplier of rotating equipment and aftermarket parts and services, announced today that it will supply advanced turbomachinery for SBM Offshore (SBM) floating, production, storage and offloading (FPSO) vessel destined for Noble Energy's Aseng Field offshore Equatorial Guinea.

Dresser-Rand will supply gas compression and power generation packages. Dresser-Rand will provide 4 DATUM(R) centrifugal compression trains driven by electric motors and three DR-61G (LM2500) gas turbine generator sets. The compressor trains will be manufactured in Olean, NY, and the gas turbines will be engineered by Dresser-Rand Kongsberg and packaged at Samsung Techwin's facilities in Changwon, South Korea. As previously reported, Dresser-Rand booked the order in October 2009.

"We are very pleased that SBM has selected Dresser-Rand to supply the critical rotating equipment for this important project. Our team worked closely with SBM on selecting the best technology to meet application requirements and offer a single-source solution for compression and power generation," said Jesus Pacheco, Dresser-Rand's executive vice president, New Equipment Worldwide. This award is representative of the value our technology brings to our clients.

SBM Offshore signed a contract with Noble Energy for the provision, lease and operation of the FPSO, which will operate in 3,281 feet of water. The FPSO will have capacity to handle 120,000 barrels of liquid per day, including processing of 80,000 b/d of oil, injection of up to 150,000 b/d of water, as well as handling 170 million cubic feet of gas per day. The unit will have storage capacity for 1.6 million b/d of oil including up to 500,000 b/d of condensate.

"We believe activity in the floating production market will continue to be significant and that our market share will remain strong" said Pacheco.

On May 21, 2009 Dresser-Rand signed a Strategic Cooperation Agreement with Samsung Techwin for packaging of centrifugal compressors and gas turbines. At the time the Company noted that the agreement was intended to better serve clients in the marketplace that includes floating production, storage, and offloading (FPSO) vessels and floating LNG (FLNG).

About Dresser-Rand

Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. The Company operates manufacturing facilities in the United States, France, United Kingdom, Germany, Norway, India, and China, and maintains a network of 35 service and support centers covering more than 140 countries.

About SBM Offshore

The Dutch public company SBM Offshore N.V. is the holding company of a group of international, marine technology orientated companies. Its business is to serve on a global basis the offshore oil and gas industry by supplying engineered products, vessels and systems, and offshore oil and gas production services.

The product line comprises:

• Offshore import/export terminals for crude oil, refined products, LPG and LNG, mostly based on the single point mooring principle, Floating Production and/or Storage and Offloading systems (FSOs and FPSOs) and other floating production facilities based on ship hulls, semi-submersibles and Tension Leg Platforms (TLPs);
• Offshore oil and gas production services through the leasing of integrated production and storage facilities owned and operated by the Company;
• Design, construction and supply of semi-submersible drilling platforms;
• Special designs and engineering services and delivery of specific hardware components for dynamically positioned drillships, semi-submersible drilling platforms, jack-up drilling platforms, jackup platforms for civil construction, large capacity offshore cranes, elevating and lifting systems, crane vessels and other specialised work vessels;
• Offshore construction and installation contracting services.
  

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, the Company's plans, objectives, goals, strategies, future events, future bookings, revenues, 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", "appears", "outlook", 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: potential for material weaknesses in its internal controls; economic or industry downturns; the variability of bookings due to volatile market conditions, subjectivity clients exercise in placing orders, and timing of large orders; volatility and disruption of the credit markets; its inability to generate cash and access capital on reasonable terms and conditions; 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; fluctuations in currencies and volatility in exchange rates; loss of senior management; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its clients; failure to negotiate new collective bargaining agreements; unexpected product claims and regulations; infringement on its intellectual property or infringement on others' intellectual property; difficulty in implementing an information management system; and the Company's brand name may be confused with others. These and other risks are discussed in detail in the Company's filings with the Securities and Exchange Commission at 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 www.dresser-rand.com.

DRC-FIN

SOURCE Dresser-Rand Group Inc.

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