It's been a busy summer for GE Oil & Gas across the Asia-Pacific region. Today, the team is gathering in Singapore to map out next steps as part of their annual mid-year business review and to kick-off a tour of key customer sites across the region. We thought it would be a good time to take a look at just what Oil & Gas has been up to in recent weeks.
In the heavy equipment category, GE recently inked a key deal with Petronas, Malaysia's state-owned oil company, to supply of a range of gas turbines and compressors for projects in Malaysia and other parts of the world. In what's called a "frame agreement," the deal, announced in June, eliminates the need to spend time negotiating on a project-by-project basis. Equipment is also standardized to a great extent, resulting in lower engineering costs. The deal follows-up GE's continued string of turbo-machinery wins in China, as the country uses GE's technology to build it's giant West-to-East gas pipeline.
The same day the Petronas agreement was formalized, GE also struck a key services deal in Malaysia. Working with Malaysia's leading oil and gas service provider, GE is expanding its service center for the regional oil and gas industry. Expected to be operational at the end of the year, the center will use the most advanced service and repair technologies from GE to maintain, repair and refurbish heavy industrial gas turbines and its components - which minimizes downtime and helps extend the life of the equipment. The center will continue to be operated by Malaysian Advanced Refurbishment Services, a wholly owned subsidiary of SapuraCrest Petroleum and is among the few service centers of its kind in the region.
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