GE Oil & Gas Signs Agreement with Gulf Petrochemical Industries Company

GE Oil & Gas (NYSE: GE) has signed a long-term multi-outage contract with Gulf Petrochemical Industries Company (GPIC), to own the functional excellence of GPIC's plant in Bahrain. The partnership will certainly reinforce the competency of GPIC to supply products consisting of ammonia and methanol that drive the development of downstream markets and add to Bahrain's GE Oil & Gas (NYSE: GE) has signed a long-term multi-outage agreement with Gulf Petrochemical Industries Company (GPIC), to drive the operational excellence of GPICs plant in Bahrain. The partnership will strengthen the competency of GPIC to supply products including ammonia and methanol that drive the growth of downstream industries and contribute to Bahrains national economy.

As part of the agreement, GE Oil & Gas will offer the full spectrum of outage turnkey services, spare parts and repairs for the GPIC plant. It also covers the servicing of scheduled outages for a period from 2018 to 2026. The collaboration between GPIC and GE Oil & Gas will allow the technical teams to conduct all consultative checks ahead of time, ensuring that the key process equipment crucial for GPICs production such as syngas trains, mug trains, carbon dioxide compressors and gas turbine generators continues to operate while unnecessary downtime is reduced significantly.

The partnership between GPIC and GE Oil & Gas will lay the foundation for future adoption of GE Predix-based solutions including Asset Performance Management (APM), a major step towards the full digitalization of the overall plant, contributing to optimal asset utilization and increased operational efficiency.

Zaher Ibrahim, CEO of GE Oil & Gas Saudi Arabia & Bahrain, said: The agreement with GPIC is a milestone in our long-term partnership with the organization that is owned by our major clients. As a key contributor to the national economy of Bahrain, GPIC focuses on products that have extensive application in downstream industries. The multi-outage agreement will strengthen the efficiency of the GPIC plant and contribute to higher levels of productivity and operational safety. This also further demonstrates GE Oil & Gas full stream capabilities and the productivity gains that can be realized through such close-collaboration.

Established in 1979 as a joint venture between GCC member states for the manufacture of fertilizers and petrochemicals, GPIC is owned by NOGA Holding Bahrain, Saudi Basic Industries Corporation (SABIC) and Petrochemical Industries Company (PIC) of Kuwait, which are leading customers of GE.

Dr. Abdulrahman Jawahery, President, GPIC, added: At GPIC, we are focused on strengthening the all-round efficiency and safety standards of the plant. Reducing unplanned downtime and increasing the operational workflow is critical to achieving our production targets. The multi-outage agreement that we signed with GE, our long-term partner, brings the latest technology strengths to GPIC.

GE Oil & Gas provides a wide selection of advanced equipment for GPICs shareholders including pumps and Frame 5 gas turbine generators. Across the board, GE Oil & Gas prioritizes safety, quality and operational excellence with the goal of delivering higher levels of productivity and increased uptime of the assets.

GE Oil & Gas has had a strong presence in the region, including Bahrain, for more than 80 years and has continued to invest in its capabilities with local centers of excellence in Bahrain, training programs for Bahraini nationals and by driving local research in technology economy.

As part of the agreement, GE Oil & Gas will provide the complete range of blackout complete services, extra parts and fixings for the GPIC plant. It likewise covers the servicing of scheduled blackouts for a period from 2018 to 2026. The cooperation between GPIC and GE Oil & Gas will certainly enable the technical groups to perform all consultative checks beforehand, ensuring that the key procedure equipment vital for GPIC's production - such as syngas trains, mug trains, carbon dioxide compressors and gas generator generators - remains to run while unneeded downtime is reduced substantially.

The partnership in between GPIC and GE Oil & Gas will lay the foundation for future fostering of GE Predix-based solutions consisting of Property Performance Monitoring (APM), a major action towards the full digitalization of the general plant, contributing to optimum asset usage and boosted operational efficiency.

Zaher Ibrahim, Chief Executive Officer of GE Oil & Gas - Saudi Arabia & Bahrain, claimed: "The contract with GPIC is a turning point in our lasting partnership with the organization that is owned by our significant clients. As a key contributor to the nationwide economy of Bahrain, GPIC focuses on products that have extensive application in downstream sectors. The multi-outage contract will enhance the performance of the GPIC plant and add to greater degrees of productivity and functional safety. This also more demonstrates GE Oil & Gas' complete stream abilities and the efficiency gains that could be recognized with such close-collaboration."

Established in 1979 as a joint endeavor in between GCC member states for the manufacture of fertilizers and petrochemicals, GPIC is possessed by NOGA Holding Bahrain, Saudi Basic Industries Corporation (SABIC) and Petrochemical Industries Company (IMAGE) of Kuwait, which are leading customers of GE.

Dr. Abdulrahman Jawahery, President, GPIC, included: "At GPIC, we are focused on strengthening the all-round efficiency and safety and security criteria of the plant. Decreasing unexpected downtime and boosting the operational process is critical to achieving our production targets. The multi-outage agreement that we signed with GE, our long-lasting partner, brings the latest technology strengths to GPIC."

GE Oil & Gas offers a large selection of innovative equipment for GPIC's investors consisting of pumps and Frame 5 gas wind turbine generators. Throughout the board, GE Oil & Gas prioritizes safety, top quality and operational excellence with the objective of delivering higher levels of efficiency and boosted uptime of the properties.

GE Oil & Gas has had a solid presence in the region, consisting of Bahrain, for more than 80 years and has continuouslied invest in its abilities with local centers of excellence in Bahrain, training programs for Bahraini nationals and by owning local research in technology.