Global Frame Agreement Petronas

KUALA LUMPUR, MALAYSIA—31. On March 27, 2014—GE (NYSE: GE) signed a new seven-year global image agreement with PETRONAS, Malaysia`s largest oil and gas group. The agreement, which provides for a new three-year extension option, provides that GE will supply gas turbine packages for PETRONAS` onshore and offshore projects in Malaysia and other countries around the world. Read the article online at: “GE Oil and Gas has a very diverse portfolio of products and services to deliver Petronas,” said Sandro Malquori, Regional Director of Asia-Pacific Distribution at GE Oil and Gas. The global framework agreement will facilitate the acquisition of long-term items.┬áThe recent agreements build on the long relationship between GE and PETRONAS, which began more than 20 years ago with cooperation in the LNG sector. Under Malaysia`s importance to GE, the country is also home to GE Oil and Gas` new iCenter site in Kuala Lumpur. At the heart of GE`s industrial operations, the centre provides its customers with advanced remote monitoring and diagnostic services for G`s turbomachine fleet in the region. In total, GE operates in Malaysia at two major sites, as well as several major customer sites, and offers jobs to more than 700 Malaysians in GE`s aerospace, transportation and energy businesses. In addition to the supply of equipment, the new agreement with Petronas also involves a long-term service contract. GE Oil and Gas, through its Malaysian partner Sapura Power Services Sdn Bhd, is committed to providing a wide range of services designed to improve equipment efficiency and performance over the life of the framework contract, including spare parts, maintenance, repairs and online monitoring. “Through these cooperation agreements, we are gaining the benefits of a competitive CAPEX, with reduced overall operating costs, first-rate availability and reliability, and superior support from GE,” said Datuk Wan Zulkiflee Wan Ariffin, Chief Operating Officer and Executive Vice President of PETRONAS, Downstream. GE Oil and Gas, through its subsidiary Nuovo Pignone S.p.A., has signed a comprehensive framework agreement with Petronas, the Malaysian state-owned oil company, to supply a series of gas turbines and compressors for Petronas projects in Malaysia and other parts of the world.

In order to optimize project dates and reduce costs, all terms of the agreement have been negotiated for the duration of the relationship, so there is no need to negotiate on the basis of projects. Delivered devices are also standardized when applicable, so specifications, technical solutions and documentation are shared, reducing engineering costs and improving quality. KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) has conditioned a framework agreement between Petroliam Nasional Bhd (Petronas) for the supply of fixed offshore engineering, procurement and construction (EPC) construction. In a statement yesterday, MMHE said that the agreement, guaranteed by its wholly owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd, consists of two packages, namely fixed offshore structures weighing more than 7,500 tonnes (MT) (package A) and fixed offshore structures weighing 7,500 MT or equal to 7,500 MT (package B).

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