31-03-2014
GE and Petronas sign new global frame agreement
GE has signed a new seven-year Global Frame Agreement with PETRONAS, Malaysia's leading oil and gas corporation. The agreement, which includes an option to renew for a further three years, calls for GE to supply gas turbine packages for PETRONAS' onshore and offshore projects in Malaysia and other countries around the world.
The signing follows the successful completion of the first frame agreement between GE and PETRONAS signed in 2009, under which GE provided advanced turbo-compression and turbo generation technology for PETRONAS' Liquefied National Gas (LNG) Train 9 project in Bintulu, Sarawak. Another major milestone was the award of PETRONAS' Floating LNG project, which is targeted to be the world's first offshore LNG plant. Designed to produce 1 million tons of LNG a year, the startup of the facility is scheduled for 2016.
"Through these collaborative agreements we achieve the benefits of a competitive CAPEX with lower total cost of ownership, world class equipment availability and reliability and superior support from GE," said Datuk Wan Zulkiflee Wan Ariffin, PETRONAS Chief Operating Officer and Executive Vice President, Downstream.
"GE is committed to reinforcing our strong, long-term partnership and collaboration with PETRONAS," said Lorenzo Simonelli, CEO of GE Oil & Gas. "This new agreement allows us to be more closely aligned with PETRONAS so that we can better anticipate their technology needs and streamline the delivery process."
To optimize project deadlines and reduce costs, all terms and conditions under the agreement have been negotiated for the duration of the relationship, avoiding the need to negotiate on a project-by-project basis. The equipment supplied is also standardized whenever applicable so that specifications, technical solutions and documentation are shared, resulting in lower engineering costs and quality improvements.
At the signing ceremony, which took place on March 26, PETRONAS also awarded a long-term service contract to SapuraKencana GE Oil & Gas Services Sdn. Bhd., a joint venture company that GE created with SapuraKencana Berhad for the maintenance of GE turbomachinery. The formation of the joint venture underscores SapuraKencana and GE's ongoing commitment to building local service capabilities and to develop and train the next generation of engineering and service experts in Malaysia.
"Our new venture with GE will provide a wide range of services designed to enhance equipment efficiency and performance, including local field engineers, spare parts, maintenance and repairs on GE's fleet, which will ensure the highest reliability of the equipment for PETRONAS," said Tan Sri Dato' Seri Shahril Shamsuddin, President & Group CEO, SapuraKencana Petroleum Berhad.
The latest agreements build on the long relationship between GE and PETRONAS that began with collaboration on LNG more than 20 years ago. Underscoring Malaysia's importance to GE, the country is also home to GE Oil & Gas' new iCenter facility in Kuala Lumpur. A centerpiece of GE's industrial internet operations, the center provides customers with advanced remote monitoring and diagnostics services for GE's installed fleet of turbomachinery in the region. In total, GE is present in Malaysia in two major locations as well as several key customer sites, providing employment for more than 700 Malaysians in GE's aviation, transportation and energy businesses.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024