Knowledge and Technology Transfer to Provide World Class Service for Customers Regionally
KUALA LUMPUR, MALAYSIA---June 15, 2009 --- Malaysia's leading integrated oil and gas service provider, SapuraCrest Petroleum, through its subsidiary Sapura Power Services Sdn Bhd, has entered into a joint agreement with GE Oil & Gas to further expand and enhance its service centre for the regional oil and gas industry.
The service centre will use the most advanced service and repair technologies from GE Oil & Gas to maintain, repair and refurbish heavy industrial gas turbines and its components, using OEM approved standards. This enhanced facility is expected to be operational by the end of 2009. The centre will continue to be operated by Malaysian Advanced Refurbishment Services, a wholly owned subsidiary of SapuraCrest Petroleum and is among the few service centres of its kind in the region, first established seven years ago.
One of the centre's pioneer clients under this joint agreement will be Petronas, which has issued a letter of intent recently to use the facility.
In a statement issued yesterday by SapuraCrest and GE Oil & Gas, the improvements at the service centre will include installation of the latest technologies and repair service equipment. This will further minimize unit downtime and increase the efficiency and the life of equipment for oil and gas facilities in the region. The expansion is also a response to the increasing demand for refurbishment, maintenance and repair works for gas turbines in the region's LNG, downstream and upstream industry sectors and will allow for faster and easier access to such services.
With its thriving oil and gas industry, Malaysia is an important contributor to world energy markets. Current oil reserves are estimated at approximately three billion barrels, with much of the oil production taking place offshore. Malaysia is also a significant LNG exporter to Japan, South Korea and Taiwan and has one of the most extensive natural gas pipeline networks in Asia.
Jeff Nagel, vice president - Global Services for GE Oil & Gas said, "The oil and gas industry in this region is enjoying dynamic growth and we wanted to increase our capability to provide timely, effective solutions to better meet the needs of our customers. Our challenge was to find a local partner who was a leader in the local industrial sector and we're very pleased that Sapura has agreed to collaborate with us in this important endeavour."
SapuraCrest Petroleum Berhad, a publicly listed member of the Sapura Group of companies, is one of the leading regional integrated oil and gas services providers. SapuraCrest Petroleum is involved in marine installation and construction, drilling of offshore oil wells, management of oil rigs, oilfield production and provision of offshore geotechnical and geophysical services. It owns 18 vessels and nine Remote-Operated Vehicles (ROVs). Its asset base owned through its subsidiaries and joint ventures has an estimated market value of RM 3 billion. SapuraCrest international markets include India, Australia, Indonesia, Thailand, Cambodia, Myanmar, Vietnam and Russia.
GE Oil & Gas is already well established in Malaysia and the Asia Pacific region, particularly in the offshore sector. The company has provided a range of equipment, including gas turbines, compressors, subsea equipment and repair and inspection services for offshore projects in Australia, China, Indonesia, Malaysia and Thailand.
About SapuraCrest Petroleum Berhad
SapuraCrest Petroleum Berhad, a public-listed subsidiary of the Sapura Group of companies, is one of the leading regional integrated oil and gas services providers. SapuraCrest Petroleum is involved in marine installation and construction, drilling of offshore oil wells, management of oil rigs, oilfield production and provision of offshore geotechnical and geophysical services.
SapuraCrest owns 18 vessels and 9 Remote-Operated Vehicles (ROVs). Its asset base owned through its subsidiaries and joint ventures has an estimated market value of RM 3 billion. SapuraCrest international markets include India, Australia, Indonesia, Thailand, Cambodia, Myanmar and Vietnam.
For more information, please visit www.sapuracrest.com.my
About GE's Oil & Gas business
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, offering complete solutions for production, LNG, transportation, storage, refineries, and petrochemicals. It also provides pipeline integrity solutions including software and asset management. With its acquisition of VetcoGray and Hydril Pressure Control, GE Oil & Gas now offers additional products, systems and services for drilling, completion and production within onshore, offshore and subsea applications.
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For more information, contact:
Norliza Kamaruddin
Sapura Group
+603 8949 7727
Sandra Gherardotti or Gabriele Peri Ken Darling or Howard Masto
GE Oil & Gas Masto Public Relations
+39 055 423 3361 +1 518 786 6488
[email protected] [email protected]
[email protected] [email protected]
Corporate Communications
[email protected]
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