Weir Oil and Gas closes $70 million deal in Singapore with PTTEP
Weir Oil & Gas Dubai announced today that it signed a five-year $70 million contract with Thailand’s PTT Exploration and Production (PTTEP), a subsidiary of state-owned energy conglomerate PTT, to supply and install 1,800 sets of wellheads and trees in the Gulf of Thailand. The agreement represents one of the largest recent projects in Southeast Asia.
Weir said in a statement that its extensive experience and history in the Gulf of Thailand, large skilled Thai workforce and differentiated technical capabilities were deciding factors in the deal. This contractual agreement also further consolidates a wider regional adoption of Weir’s Rig-to-Grid capabilities in the market.
Weir is focused on leveraging its pressure control, oilfield services and aftermarket services in order to be the preferred supplier of pressure containment products and services for drilling and production companies in the Eastern Hemisphere.
“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,” said Paul Coppinger, President of Weir.
