GE Oil & Gas Drilling & Production Technology to Support Development of Gas Fields Offshore Vietnam
Ho Chi Minh, VietnamMay 19, 2011GE Oil & Gas (NYSE: GE)
drilling & production business has been selected to supply
high-pressure, high-temperature (HPHT) equipment to Bien Dong
Petroleum Operating Company, a subsidiary of the state-run Vietnam
Oil and Gas Group (PetroVietnam), for the development of gas
fields, offshore Vietnam.
Under a contract of approximately $30 million, GE will provide 16
sets of HPHT surface wellheads and subsea production trees, along
with associated equipment and services, for deployment in phase one
of the development campaign for blocks 05.2 and 05.3 of the Hai
Thach and Moc Tinh gas fields. This marks the largest single
contract for surface wellheads and subsea trees in Vietnam by any
equipment manufacturer.
Sam Aquillano, vice presidentdrilling & production, GE Oil
& Gas said: "We are honored to supply high-tech equipment to
Bien Dong Petroleum Operating Company to support Vietnams offshore
drilling and production operations. This is the largest single
contract for surface wellhead and subsea trees in Vietnam, and GE
hopes to build on this contract award by continuing to support
Vietnam's burgeoning oil and gas industry with high-tech,
high-performance equipment and services from across our integrated
oil and gas portfolio.
The high-tech equipment, with the capability to operate at
350°F and 15,000 psi, is a first for Vietnam and reinforces GEs
position as a leading supplier of surface HPHT and ultra HPHT
wellheads and subsea trees in Asia. The contract follows GEs recent
agreement with Total Malaysia to supply ultra HPHT equipment
(450° F and 15,000 psi).
GE Oil & Gas has a strong local presence in Vietnam for
turbomachinery and drilling and production equipment and services
support. Last year, GE signed a memorandum of understanding (MOU)
with PetroVietnam, paving the way for the future supply of advanced
oil and gas equipment, services and spare parts to optimize the
total life-cycle value of key oil and gas projects in
Vietnam.
This contract further affirms GE's position as a significant
wellhead and subsea production tree supplier for surface HPHT and
ultra HPHT equipment in Asia and follows a recent award with Total
Malaysia for ultra HPHT equipment (450°F and 15,000 psi). GE
Oil & Gas has a local presence in Hanoi for turbomachinery
equipment and services and in Ho Chi Minh City for VetcoGray subsea
equipment and services. GE Oil & Gas also provides advanced
technology equipment and services to other high-profile projects in
Vietnam, such as the BP Pipeline, Dung Quat Refinery, Phu My
Refinery, Camau Fertilizer and Vietsovpetro. Last year, GE Oil
& Gas successfully signed an MOU with PetroVietnam outlining
the principles and basis of long-term collaboration regarding the
supply of advanced oil and gas equipment, services and spare parts
to optimize the total life-cycle value of key oil and gas
projects.
About GE Oil & Gas
GE Oil & Gas (www.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. GE Oil & Gas also provides pipeline
integrity solutions, including inspection and data management, and
designs and manufactures wire-line and drilling measurement
solutions for the oilfield services segment. GE Oil & Gas
exploits 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 20,000 people worldwide and operates in over 100
countries.
About GE
GE (NYSE: GE) is an advanced technology, services and finance
company taking on the worlds toughest challenges. Dedicated to
innovation in energy, health, transportation and infrastructure, GE
operates in more than 100 countries and employs about 300,000
people worldwide. For more information, visit the company's Web
site at www.ge.com.
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