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PRZOOM - /newswire/ -
Doha, Qatar, 2010/05/20 - Al Shaheen Energy Services and GE Oil & Gas have signed strategic partnership agreements that will support the continued growth of Qatar’s oil and gas and energy industries and consolidate GE’s presence in the Middle East region. NYSE: GE
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Under the first agreement Al Shaheen Energy Services becomes a 50% strategic JV partner in GE Oil & Gas’ PII Pipeline Solutions business. In addition to continuing to provide pipeline inspection and integrity services to its existing customers around the world, PII Pipeline Solutions will also establish a dedicated Integrity and Inspection center in Qatar, to support operators throughout the Middle East.
The partners also signed a 50:50 joint venture agreement, creating the Al Shaheen GE Services Company, which is now formed and operating, to perform aftermarket services for the entire GE Oil & Gas installed fleet in Qatar. This partnership, which includes GE’s existing Services Center facilities in Qatar, will provide an enlarged range of turbine, compressor and related auxiliary equipment services, as well as fostering technology transfer and the development of local talent. Claudi Santiago, President and CEO, GE Oil & Gas said: “These partnership agreements reflect GE’s long-standing presence in Qatar and strengthen our long term commitment to the Middle East. Al Shaheen Energy Services is a terrific partner for GE and we are delighted to formalize our partnership in this way.”
About GE Oil & Gas
GE Oil & Gas (ge.com/oilandgas) is a world leader in advanced technology 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. We also provide pipeline integrity solutions, including inspection and data management. As part of our 'Innovation Now' customer focus and commitment, GE Oil & Gas leverages technological innovation from other GE businesses, such as aviation and healthcare, to continuously improve oil and gas industry performance and productivity. GE Oil & Gas employs more than 12,000 people worldwide and operates in over 100 countries.
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE (ge.com) operates in more than 100 countries and employs about 300,000 people worldwide.
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