Published: June 21, 2011
Hitachi Plant Technologies Signed a Corporate Procurement Agreement with Saudi Arabian Oil Company for Compressors
TOKYO - (BUSINESS WIRE) - Hitachi Plant Technologies, Ltd.(President and Representative Director:
Toshiaki Higashihara), on June 21, has entered a Corporate Procurement
Agreement (CPA) with Saudi Arabian Oil Company, the national oil company
of the Kingdom of Saudi Arabia, to supply compressors and services for
oil and gas plants.
Corporate Procurement Agreement View (On the right, Mr. Munir M. Rafie, Vice President of Materials Supply from Saudi Aramco, and on the left, Mr. Manabu Shimokawa, Vice President and Executive Officer from Hitachi Plant Technologies, Ltd.) (Photo: Business Wire)
Hitachi Plant Technologies will also become the fourth company to enter
an agreement with Saudi Aramco as a compressor manufacturer, and the
first Japanese manufacturer to do so.
The Agreement specifies basic terms and conditions to simplify and
standardize the contract process when purchasing compressors, and other
agreement terms regarding participation of Hitachi Plant Technologies in
projects ranging from the basic planning stage of new projects to the
development of new compressor technologies. Through this agreement,
Hitachi Plant Technologies achieves a stronger business relationship
with Saudi Aramco, and expects to increase orders through new compressor
design and new demand. It also expects to enhance the compressor
technology standards by participating in new technology development
projects.
In addition, Hitachi Plant Technologies is studying the establishment of
after-service locations to service and maintain compressors in Saudi
Arabia in FY2011 with a field study started in March 2011. As a result,
Hitachi Plant Technologies is looking to expand its maintenance business
for compressors shipped to Saudi Aramco through after-service locations
soon to be established in Saudi Arabia that will be developed into a
future regional manufacturing facility. Furthermore, Hitachi Plant
Technologies plans to develop compressor business opportunities with
other GCC*1 countries.
Hitachi Plant Technologies plans to increase its compressor business for
oil and gas plants aggressively, mainly in the Middle East, Asia, and
South America, where future demand lies, and to achieve revenues of 60
billion yen by FY2015. Hitachi Plant Technologies also plans to
accelerate its community-based global development through joint ventures
with customers and partners, expansion of its service business through
product lifecycles, and by handling the outsourcing of the maintenance
business.
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Notes:
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*1
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GCC (Gulf Cooperation Council)
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Saudi Aramco Summary
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Company Name
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Saudi Arabian Oil Company www.saudiaramco.com
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Business areas
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A fully integrated global petroleum enterprise with exploration,
producing, refining, petrochemicals, marketing, distribution and
shipping
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Address
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Dhahran, Saudi Arabia
Address: Saudi Aramco P.O. Box 5000
Dhahran 31311 Saudi Arabia
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Shareholders
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Owned by the Saudi Arabian government
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Representative
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Khalid A. Al-Falih, President & CEO
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Employees
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>55,000
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Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6747847&lang=en
Hitachi Plant Technologies, Ltd.
Yuichi Tatsumi, +81-3-5928-8237
yuichi.tatsumi.rm@hitachi-pt.com
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