NewswireTODAY - /newswire/ - Muscat, Oman (Sultan of Oman), 2016/09/26 - GE Oil & Gas has signed a landmark long-term, multi-million-dollar contract with Petroleum Development Oman for the provision of Progressive Cavity Pump equipment (PCP) and related services commencing in the third quarter of 2016 - PDO.co.om. NYSE: GE

• Contract aligns with PDO’s ‘In County Value’ initiative to promote local manufacturing;
• GE Oil & Gas will provide progressing cavity pump equipment and services creating new jobs for Omanis and supporting the local supply-chain;
• Integrated approach by PDO on Progressing Cavity Pump equipment & service will enhance operational efficiency.

This is aligned with PDO’s ‘In Country Value’ initiative and marks the first contract awarded by PDO to GE, for providing PCP equipment and services.

PDO’s ‘In Country Value’ strategy aims at promoting localized sourcing, developing Local Community Contractors (LCCs) and strengthening Omani talent development through training programs. GE Oil & Gas will sub-contract services to LCCs that will also be trained on the various aspects of PCP services. The engagement of the LCCs and sub-contracting of work to them is crucial to driving local talent development and boosting south Oman’s local economy.

A PDO spokesperson said: “The award of the integrated PCP contract to GE for the Nimr fields synergizes and aligns with the integrated RRP contract for the Nimr fields previously awarded to GE. ‘In Country Value’ was an important feature of the negotiations and this contract is further evidence of our commitment to secure long-term sustainable economic benefits for the Sultanate.”

Rami Qasem, President & CEO, GE Oil & Gas for Middle East, North Africa and Turkey, said: “The contract builds on our long-term partnership with PDO and underlines our commitment to investing in Oman and supporting PDO to achieve their long-term goals. The provision of advanced equipment and services will help in meeting and exceeding the average run-life of the PCP equipment, a critical component in PDO’s production operations.”

As part of the deal, GE Oil & Gas has joined hand with its local partner Edgo to provide a wide range of specialized equipment and ensure preventive and corrective maintenance for a number of inherited PCP systems in addition to supervising the use of these systems in well interventions. GE Oil & Gas will also provide technical training to the PDO team.

GE Oil & Gas supports its partners in Oman with a wide range of products and services including Artificial Lift products such as Rod Lift Systems, Automation, Electrical Submersible Pumps, Progressing Cavity Pumps, Surface Pumping Systems, Zenith Systems, Power 2 Lift, Pressure Control systems (PC) and Turbo Machinery Services (TMS), among others.

With an active presence in Oman since 1975 GE is a key partner in supporting the Sultanate’s energy production. GE currently has 70% of the RRP scope of work with PDO in the Nimr area. GE ESP technology is deployed in 230 of PDO’s wells to support production. GE is also powering the three LNG trains at Oman LNG’s Qalhat complex with six critical gas turbines driving the trains and six gas turbines generating power.

GE has also rolled out dedicated training programs for Omani professionals at the GE Oil & Gas University in Florence, a testament to the abiding commitment to support Omanization and human capital development.

About GE
GE (ge.com) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.

About GE Oil & Gas
GE Oil & Gas (geoilandgas.com) 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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