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16 April 2017

The Gulf Petrochemical Industries Company (GPIC) has signed a long-term bilateral agreement with GE Oil & Gas (NYSE: GE) to enhance efficiency its major plant operations and support and supervise periodic maintenance of all GE Oil & Gas equipment according to the highest quality, health and safety standards.

In his comments, GPIC President Dr. Abdulrahman Jawahery said the agreement is a turning point in the strong partnership between the two companies and would contribute to enhancing efficiency of the company's factories which produce Ammonia and Methanol and promote Bahrain’s manufacturing industries, besides supporting the national economy.

According to the agreement, GE Oil & Gas will provide a full range of field services, spare parts and maintenance for its plants as well as cover manufacturing services for all its major equipment including carbon dioxide compressors and gas turbine generators. This agreement will ensure optimal use of resources and increase operational efficiency at the lowest cost.

Dr. Jawahery said they are focussed on enhancing the efficiency and overall safety standards of plants, reducing downtime and increasing efficiency of operational processes, critical to achieving the company's production goals. He said the agreement would provide GPIC with the latest technology in this field.

The President said the company would continue to adopting the best strategies to develop performance at all levels and cooperate with all parties and companies to support operations of its plants while ensuring employees' commitment to develop their knowledge, abilities and skills.

Dr. Jawahery thanked all of GPIC’s employees for their cooperation in implementing the Company’s management strategies and said their hard work is characterized by professionalism, ambition and seriousness, which had resulted in the company winning many regional and international awards.

GE Oil & Gas Chief Executive Officer of Saudi Arabia & Bahrain H.E. Mr. Zaher Ibrahim said they are pleased with the new cooperation. He said the agreement was an example of the long partnership between the two companies and added it would enhance efficiency of GPIC's plants, besides contributing significantly to raising levels of productivity and operational safety.

GPIC was set up in 1979 as a joint venture between the Gulf Cooperation Council (GCC) countries. It is equally owned by the National Oil and Gas Holding Authority of Bahrain, the Saudi Basic Industries Corporation and the Petrochemical Industries Company of Kuwait.

In recent years, it has witnessed huge growth in production and operations, resulting in record production, operation, exports, maintenance and safety standards, making it an example for ae clean and successful regional industry.