GE Oil & Gas And Al Shaheen Energy Services Sign Partnership Agreements
GE Oil & Gas and Al Shaheen Energy Services, a wholly owned subsidiary of Qatar Petroleum have signed two partnership agreements, consolidating PII Pipeline Solutions' presence in Qatar and the Middle East, and establishing a joint venture (JV) for aftermarket services of turbomachinery equipment in Qatar.
Under the first agreeement, Al Shaheen Energy Services becomes a 50% strategic JV partner in GE Oil & Gas' PII Pipeline Solutions business, effective immediately. GE Oil & Gas will maintain operational control of the business; the company name will be PII Pipeline Solutions (an Al Shaheen/GE Oil & Gas Company). The company will establish a dedicated Integrity and Inspection center in Qatar, expected to be open in 2010, to support pipeline solutions in the Middle East.
GE Oil & Gas and Al Shaheen have also signed a 50:50 joint venture agreement to perform aftermarket services for the GE Oil & Gas installed fleet in Qatar. The Al Shaheen/GE Services Company will provide an enlarged range of turbine, compressor and related auxiliary equipment services. Broader application experience available will include LNG and pipeline, gasification and storage, and refinery and petrochemicals.
For more information: www.ge.com