The Dubai arm of oilfield equipment supplier Weir Oil & Gas has signed a five-year deal to supply and install 1,800 sets of wellheads and trees in the Gulf of Thailand.
Weir said on Monday that the $70-million contract was signed with Thailand’s PTT Exploration and Production (PTTEP). According to the company, the agreement represents one of the largest recent projects in South East Asia.
This contractual agreement also further consolidates a wider regional adoption of Weir’s rig-to-grid capabilities in the market.
In the Eastern Hemisphere region, the company provides an off-the-shelf range of products, as well as customized wellhead solutions designed to meet unique specifications.
The company provides in-country service and support through eight centres, which allow the company to manufacture and distribute wellhead equipment quicker due to its proximity to customers in the region.
Paul Coppinger, president of Weir Oil & Gas, said: “We look forward to fulfilling PTTEP’s comprehensive servicing needs for its blocks in the Gulf of Thailand by leveraging our regional technology, manufacturing presence and our local teams in Bangkok, Songkhla, and Sattahip”.
It is worth noting that Caterpillar has recently signed an agreement to acquire Weir Oil & Gas from the Weir Group.
The buy, announced in October, will have a purchase price of $405 million – set to be paid in cash at closing.
The acquisition requires approval by the company’s shareholders. The transaction includes more than 40 manufacturing and services locations and approximately 2,000 employees.