GE Oil & Gas, Qatar Petroleum sign deal

AP News
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Posted: Dec 22, 2009 11:52 AM

GE Oil & Gas and a subsidiary of Qatar Petroleum said Tuesday that they have signed partnership deals that the companies say will bolster GE Oil & Gas' pipeline business in the Middle East and help Qatar boost oil and gas capacity.

Under the first agreement, Al Shaheen Energy Services will become a 50 percent partner in GE Oil and Gas' PII Pipeline Solutions business that provides services to help secure safe pipeline operations, maximize throughput for operators and maintain cost-effective compliance.

The two will establish an operation in Qatar expected to open next year that is designed to support pipeline operations in the Middle East.

The two also have agreed to a joint venture that they say will help Qatar increase oil and gas capacity by providing technologies for the inspection, maintenance and repair needs of the local oil and gas industry.

Al Shaheen was established to develop partnerships in the oil and gas and energy industries.