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GE and Al Shaheen Agreements To Support Qatar and Middle East Oil & Gas Industry Growth

20 May 2010

Al Shaheen Energy Services and GE Oil & Gas have signed strategic partnership agreements that will support the continued growth of Qatar’s oil and gas and energy industries and consolidate GE’s presence in the Middle East region.

Under the first agreement Al Shaheen Energy Services becomes a 50% strategic JV partner in GE Oil & Gas’ PII Pipeline Solutions business. In addition to continuing to provide pipeline inspection and integrity services to its existing customers around the world, PII Pipeline Solutions will also establish a dedicated Integrity and Inspection center in Qatar, to support operators throughout the Middle East.

The partners also signed a 50:50 joint venture agreement, creating the Al Shaheen GE Services Company, which is now formed and operating, to perform aftermarket services for the entire GE Oil & Gas installed fleet in Qatar. This partnership, which includes GE’s existing Services Center facilities in Qatar, will provide an enlarged range of turbine, compressor and related auxiliary equipment services, as well as fostering technology transfer and the development of local talent. Claudi Santiago, President and CEO, GE Oil & Gas said: “These partnership agreements reflect GE’s long-standing presence in Qatar and strengthen our long term commitment to the Middle East. Al Shaheen Energy Services is a terrific partner for GE and we are delighted to formalize our partnership in this way.”