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•Six-Year Deal With QAFCO Marks Downstream Long-Term Services Agreement in Qatar
•Agreement Covers Existing Gas Turbines, Compressors and Pumps at Mesaieed Plant
•Pact Underscores the Benefits of GE's Commitment to Collaborationwith Regional Partners
Jeddah - GE Oil & Gas(NYSE: GE) today announced its Downstream Technology Solutions (DTS) business has been awardeda long-term service contract with Qatar Fertiliser CompanyQSCC (QAFCO)to help optimize the performance of the company's fertilizer plant in Mesaieed, Qatar. QAFCO is one of the world's largest fertilizer producers.
The actual agreement is between QAFCO and GE's joint venture with Qatar Petroleum, Al-Shaheen GE Services Company (QSC), which supports GE's regionalization strategy of deploying capability and resources closer to its customers around the world.
The long-term service agreementcovers the standard maintenance and repairs ofexistingGE on-site power and compression equipment as well as training for QAFCO workers and site operators.QAFCO's Mesaieed facility produces ammonia and urea contributing to the total QAFCO annual production capacity of 3.8 million MT of ammonia and 5.6 million MT of urea.
"A key priority for us is to optimize the long-term availability and efficiency of our Mesaieed plant's existing fertilizer production facilities," saidKhalifa A Al Sowaidi, Chief Executive Officer. "Not only is GE Oil & Gas the original equipment manufacturer for the gas and steam turbines, centrifugal compressors and associated equipment, but it also has the proven local customer services capabilities we need to help us meet our production targets."
The agreement with QAFCO comes nearly a year after GE first launched its DTS business to more effectively serve the US$10 billion refining, petrochemical, industrial and distributed gas segments. DTS provides integrated solutions, adding the value of a single equipment source with a key focus on applications for ethylene, low-density polyethylene, ammonia and urea as well as refinery processing.
Rami Qasem, President & CEO of GE Oil & Gas for the Middle East, North Africa and Turkey, said: "This agreement with QAFCO further builds on our strong partnership with the organization and our long-term presence in Qatar. Our existing equipment will bring the cutting edge in GE's innovative technology, assuring higher efficiency, reliability and will support the optimal performance of the company's fertilizer plant in Mesaieed, Qatar."
"Our long-term service agreement with QAFCO illustrates the many advantages that we can offer our customers in the fertilizer and other downstream industries through our collaborations with local project partners," said Hasan Dandashly, President & CEO of DTS, GE Oil & Gas. "The agreement also underscores how GE's regionalization strategy enhances the value of our products and services in Qatar and throughout the Middle East."
The new service agreement includes the following equipment at Mesaieed:
•Six Frame 6gas turbines
•33 centrifugal compressors (various models)
•17 steam turbines
•16 centrifugal pumps
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About QAFCO
QAFCO was founded in 1969 as a joint venture between the Government of Qatar and a number of foreign shareholders. The country's first large-scale venture in the petrochemical sector, QAFCO was established with a view to diversify the economy and utilize the nation's enormous gas reserve. After successfully implementing several expansion projects over the past three decades, the Company has evolved into a world-class fertilizer producer. QAFCO is now owned 75% by Industries Qatar (IQ) and 25% by Yara Netherland.
www.qafco.qa
About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.
www.ge.com.
About GE Oil & Gas
GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future.
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For more information, please contact:
Caroline Wehbeh
External Communications Director, GE, MENAT
+9714 4296318
caroline.wehbeh@ge.com
Malek Abdelrahman
ASDA'A Burson-Marsteller
malek.abdelrahman@bm.com
Mark Beckett
GE Oil & Gas
T +1 713 260 6715
mark.beckett@ge.com
© Press Release 2015
