GE Oil & Gas, Al Shaheen form JV

GE Oil & Gas and Al Shaheen Energy Services have signed two partnership agreements, consolidating PII Pipeline Solutions’ presence in Qatar and the Middle East, and establishing a JV for aftermarket services of Turbomachinery equipment in Qatar.

Offshore staff

HOUSTON & DOHA, Qatar -- GE Oil & Gas and Al Shaheen Energy Services have signed two partnership agreements, consolidating PII Pipeline Solutions’ presence in Qatar and the Middle East, and establishing a JV for aftermarket services of Turbomachinery equipment in Qatar.

Under the first agreement, Al Shaheen Energy Services will become a 50% strategic JV partner in GE Oil & Gas’ PII Pipeline Solutions business. GE Oil & Gas will maintain operational control of the business. The company name will change to PII Pipeline Solutions (an Al Shaheen/GE Oil & Gas Co.), although its logo, inspection tool names, services, and software will remain the same. GE and Al Shaheen will establish a dedicated integrity and inspection center in Qatar, expected to be opened in 2010, to support pipeline solutions in the Middle East.

The companies have also signed a 50:50 joint venture agreement to perform aftermarket services for GE Oil & Gas’ installed fleet in Qatar. The Al Shaheen/GE Services Co., which includes GE’s existing services center facilities in Qatar, will provide a range of turbine, compressor, and related auxiliary equipment services.

The JV will provide advanced technologies for inspection, maintenance, and repair as well as application expertise in LNG and pipeline, gasification and storage, and refinery and petrochemicals, the companies say.

12/23/2009

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