Oilfield equipment supplier Weir Oil & Gas has signed a five-year contract with Thailand's national oil company PTT Exploration and Production (PTTEP) to supply and install 1,800 sets of wellheads and trees in the Gulf of Thailand. The contract is valued at $70 million.
"Weir’s 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, which recently agreed to sell its oil and gas business to Caterpillar, 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,” said Paul Coppinger, President of Weir Oil & Gas.