GE Oil & Gas has signed a new five-year frame agreement with Maersk Oil North Sea UK, running from 1 March 2010.

Under the agreement, GE Oil & Gas will continue to supply subsea wellheads, trees and tubular products for exploration and developed projects in the North Sea.

The company estimates the total value of the agreement to be in excess of $80m.

Frame agreements provide a standardised scope of supply designed to enhance manufacturing and minimise downtime and cost for the duration of the agreement, according to GE Oil & Gas.

GE Oil & Gas is a supplier of subsea hardware to the oil and gas industry and looks forward to supporting Maersk Oil in its ongoing development requirements over the next five years.

GE Oil & Gas provides equipment and services for all segments of the oil and gas industry, from drilling and production, LNG, pipelines and storage to industrial power generation, refining and petrochemicals.