GE, Aramco sign turbomachinery accord

GE has signed a corporate procurement agreement (CPA) with Saudi Aramco, establishing a long-term framework for the supply of turbomachinery equipment and services to support oil and gas production in Saudi Arabia.

Offshore staff

DAMMAM, Saudi Arabia -- GE has signed a corporate procurement agreement (CPA) with Saudi Aramco, establishing a long-term framework for the supply of turbomachinery equipment and services to support oil and gas production in Saudi Arabia.

John Renwick, vice chairman of GE and president and CEO, GE Energy, said, “Moving beyond project-by-project oil and gas sector transactions will enable GE to support the optimized performance of Saudi Aramco’s installed turbomachinery fleet.”

The CPA, which sets out the terms of cooperation between the partners and a standardized contractual format for future projects, is designed to streamline and simplify working processes, in turn lowering costs and shortening cycle times for Saudi Aramco’s projects.

The agreement extends to a joint technology development program with initiatives to optimizing the performance of Saudi Aramco’s installed fleet of turbomachinery equipment, which includes over 60 gas turbines, 90 compressors and more than 100 pumps.

06/01/2010

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