Dresser-Rand Group Inc.has announced that an affiliate company has entered into a long-term agreement with Saudi Aramco and simultaneously that it will open and operate a new facility in the country.
Serving as a center of excellence for manufacturing, repairs, service, technical expertise and training the development is expected to be in the form of a joint venture with Al-Rushaid Petroleum Investment Company of Saudi Arabia.
The joint venture, Dresser-Rand Arabia, will serve Saudi Aramco, other clients in the Kingdom of Saudi Arabia, and other selected clients in the gulf region.
Vince Volpe, Dresser-Rand’s President & CEO, commented: ‘Part of our strategic plan clearly identified the need for a strong unified approach to our Middle East markets, including the opportunity to better serve our clients with more local presence. The agreement with Saudi Aramco, one of the world’s largest oil producers, is a leap forward for us.’