FLORENCE, ITALY – GE Oil & Gas (NYSE: GE) has signed a Memorandum of Understanding (MoU) with the Kuwait Oil Company (KOC), a subsidiary of Kuwait Petroleum Company (KPC), to collaborate in the state of Kuwait in research and development (R&D), develop cost-effective solutions for the oil and gas sector and provide specialized training programs for engineers to strengthen Kuwaiti skilled talent.
The signing ceremony took place on the eve of the opening of the 16th GE Oil & Gas Annual Meeting in Florence. Rafael Santana, President & CEO, Turbomachinery Solutions signed the MoU on behalf of GE Oil & Gas and Hashem Hashem, CEO of KOC signed on behalf of KOC. Jeff Immelt, Chairman & CEO of GE and Lorenzo Simonelli, President & CEO of GE Oil & Gas were also present together with Mr Nizar Al-Adsani, CEO of Kuwait Petroleum Corporation.
“This agreement underlines our commitment to working in true partnership to promote the development of local human capital including technical skills of young engineers,” said Mr. Santana. Rami Qasem, president & CEO, GE Oil & Gas Middle East, North Africa & Turkey remarked “as a long-term partner of KOC, it is fantastic to be able to grow our relationship by sharing our knowledge base and advancing training initiatives in Kuwait.”
Hashem Hashem of KOC said: “As we go forward, realizing success will hinge on collaborating with local and international institutions. For this, KOC approached GE Oil & Gas to achieve a collaborative partnership that comes in-line with Kuwait International Petroleum Research Center’s (KIPRC) collaboration strategy and can be used to promote cooperation in areas that address our collective challenges and to support the acceleration of the learning curve in KOC in accordance with R&D/TM Roadmap. The parties, KOC and GE Oil & Gas, shall together promote cooperation in R&D and technology innovations, education and training and the development of KOC employees.”
GE Oil & Gas offers an extensive portfolio of highly reliable machinery and equipment to all segments of the oil and gas industry. With a global installed base of more than 20,000 units from production through transportation and processing into finished products, GE Oil & Gas is one of the industry’s major suppliers of turbomachinery, compressors, pumps, static equipment and metering systems.
GE Oil & Gas has a strong industry footprint across the Middle East region, and partners with leading oil and gas companies, petrochemical industries and power and water industry stakeholders. GE’s advanced technologies enable our customers to enhance the efficiency, reliability and productivity of their operations.
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About KPC and KOC
From a position of strength, KPC launched an ambitious 2030 growth plan across the hydrocarbon value chain. Given the complexity of the challenges and in order to achieve this plan, KPC and its subsidiaries embarked on establishing KIPRCKOC R&D Group has been tasked to incubate KIPRC on KPC’s behalf and drive implementation of K- Company R&D Programs. The center envisions to being a preeminent applied R&D and Technology Management Centre that contributes to maximizing the value of Kuwait’s hydrocarbon resources in an effective and sustainable manner. To deliver on this vision, the center will provide customer-centric, collaborative, and cutting edge R&D and technology solutions through in-house capabilities and global partnerships. To date, KIPRC has enjoyed a number of key achievements. These include:
Developed an in-depth understanding of the technical challenges faced by the oil and gas sector in Kuwait and putting forward a 5-year R&D and technology roadmap
Developed an R&D Collaboration Strategy
Shaped the concept design of the architectural landscape that will host the R&D and technology activities.
Designed the operating model and identifying manpower requirements to deliver on our mandate.
About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. www.ge.com.
About GE Oil & Gas
GE Oil & Gas 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. Follow GE Oil & Gas on Twitter @GE_OilandGas
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