Welltec announced this week that it has signed a “significant” contract with Saudi Aramco.
The business revealed that it has agreed a Long-Form Contract (LFC) with the Saudi Arabian company, following an “extensive” approval process. The deal will see Welltec deliver completion products and services across the Aramco portfolio in any environment, Welltec noted.
“Confirmation of this award represents a major step in our partnership with Saudi Aramco which also enables us to continue along the path of exemplary service quality in the execution of completions,” Kevin Wood, the well completions sales director for Welltec Middle East, said in a company statement.
“With more products being qualified through Saudi Aramco this year, and the addition of an in-country Welltec manufacturing facility, it’s greatly appreciated that Welltec have been recognized through this award,” he added in the statement.
Commenting on the deal, Hani Sagr, the area vice president for Welltec Middle East, said, “the LFC is the highest level of contract in the Saudi Aramco procurement processes”.
“It provides the best possible foundation for the provision of our technology and services to Saudi Aramco, enabling us to continue growing our partnership as well as our overall presence in the region,” Sagr added.
“The qualification process included a number of site visits, inspections and audits, with full and detailed reports covering the entire Welltec organization with particular focus on our manufacturing process,” Sagr went on to state.
Earlier this month, Welltec revealed that it had been awarded an exclusive three-year contract by Petronas, which appointed the company as the sole provider of downhole conveyance and powered mechanical services in both East and West regions of Malaysia.
Welltec is a Denmark based company which provides completion and intervention solutions. The business was established back in 1994 and is headed by chief executive officer Peter Hansen.
To contact the author, email andreas.exarheas@rigzone.com
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