DAMMAM, SAUDI ARABIA; February 6, 2010 - GE Oil & Gas and Ali Abdulla Al Tamimi Company (Al Tamimi) have formed a 25:75 joint venture (JV) to manufacture air-cooled heat exchangers in Saudi Arabia for use in the Kingdom's oil and gas industry.
Combining Al Tamimi's local engineering strength with GE's global technology leadership, the JV partnership, based in Dammam, will manufacture and test air-cooled heat exchangers, commonly used in oil and gas applications where a reliable source of water is not available.
The JV is dedicated to serving Saudi Arabian customers, including Saudi Aramco the Kingdom's national oil company, with localized equipment manufacture and testing, as well as rigorous supply chain logistics and transportation. In addition, the new partnership will also promote Saudi Arabia's growth through technology transfer and the skills development of the local workforce.
Claudi Santiago, President and CEO, GE Oil & Gas said: "This joint venture builds on 50 years of successful partnership between GE Oil & Gas and Al Tamimi. Our goal is to serve Saudi Arabia's upstream, refinery and petrochemical, and power generation industries with a world-class, localized supply chain underpinned by quality, speed and technical expertise. The new venture formalizes GE's track record of reliable partnership, consistent delivery and long-term commitment to our business objectives in the Kingdom. In addition, through the transfer of technology and expertise to the local workforce, the JV will support employment opportunities and the Kingdom's rapidly growing economy."
The new joint venture is the latest successful collaboration between GE and Al Tamimi, which have established a series of joint ventures beginning in 1957 in areas such as energy and water technology.
The partners are working to a framework for the further localized packaging and assembly of additional advanced GE Oil & Gas equipment to benefit Saudi Arabian customers such as centrifugal pumps. More than 17,000 GE Oil & Gas high efficiency centrifugal pumps are installed around the world for process, refinery, water injection, oil pipeline, boiler feed and water-cooling applications. The pumps are fully compliant with API 610-ISO 13709 industry standards and meet the most severe service requirements, including continuous service with high mean time before failure (MTBF). They have been installed with virtually every type of industrial driver including electric motors, gas and steam turbines and diesel and gas engines; and have reached significant performance milestones such as 14,500 KW/stage and 7,500 rpm.
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Notes
GE's core Air Cooled Heat Exchanger team is centered in Vibo Valentia, Italy, and is an integral part of GE's global Oil & Gas business headquartered in Florence. Air-cooled heat exchangers are commonly used in industrial applications where a reliable source of water is not available as a cooling medium. Common applications include gas re-injection, gas lift and pipeline applications, cooling and condensing of hydrocarbon gases, and cooling of machinery oil and heavy hydrocarbons, power generation and mechanical drive applications.
GE's core Centrifugal Pumps Centre of Excellence is based in Bari, Italy, and is an integral part of the global GE's Oil & Gas business. For over 50 years a large fleet of centrifugal pumps has been delivered to Saudi Arabia's Refinery & Petrochemical market and are installed in many key locations in the Kingdom, such as Jubail, Hawiya, Ras Tanura and Dhahran.
About Al Tamimi:
Al Tamimi is a diversified engineering and construction firm with 16,000 employees of 28 different nationalities, distributed throughout several dozen operating companies serving the energy, chemical, pharmaceutical, hotel, building, supermarket, catering and life support sectors in the Kingdom of Saudi Arabia.
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. 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 is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health, to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com. GE is Imagination at Work.
Kelly Home
ASDA’A Burson-Marsteller
[email protected]
+971 4 4507 600
Nivine William
ASDA’A Burson-Marsteller
[email protected]
+971 4 4507 600