Aramco, Siemens ink procurement deal
Dubai, February 9, 2011
Saudi Arabia-based Saudi Aramco, one of the world’s largest oil companies, and Siemens, a global leader in electronics and electrical engineering, have signed a corporate procurement agreement (CPA).
In addition, a sub-procurement agreement grants Saudi Aramco improved access to Siemens Oil and Gas Division’s rotating equipment and services. This will lead to more cost efficiency for both companies due to reduced project times, a statement said.
“We have worked closely with Saudi Aramco to better understand its needs and requirements,” said Tom Blades, CEO of the Siemens Oil and Gas Division.
“This corporate procurement agreement with Saudi Aramco demonstrates our commitment to the kingdom. At the same time Saudi Aramco will have even better access to Siemens´ global service and manufacturing network,” he added.
Munir Rafie, Saudi Aramco vice president of materials supply, said: “We are delighted to conclude this wide ranging agreement with Siemens. Over many years, Siemens has made a very important contribution in supporting the efficient production of oil and gas in the Kingdom, with a good record of investing in the local economy.”
Initially for a period for seven years, the CPA will cover low-emissions gas turbines with a capacity of up to 50 megawatts (MW) for a wide range of applications, high-efficiency steam turbines with ratings up to 200 MW, and compressors and blowers. Shop and field services and spare parts are also included in the CPA, the statement said. – TradeArabia News Service