TODAY

General Electric (GE) Oil & Gas has announced its partnership with SMART, a leading local service company in the Myanmar Oil & Gas Industry on January 28, 2014. The collaboration will allow SMART Technical Services to make GE Oil & Gas solutions as well as drilling and surface equipment available to operators for upcoming projects in Myanmar.

The landmark agreement follows the opening of GE’s office in Myanmar in May 2013 and reflects the corporation’s focus on deepening its local presence through local partnership and collaboration. Additionally, it will pave the way for GE technology and solutions to be made available for upstream Oil & Gas projects in the country.
Speaking at the signing ceremony held yesterday in Yangon, His Excellency U Myint Swe, Chief Minister of Yangon Region Government said, “This partnership will be beneficial to both parties involved with GE offering to transfer the needed knowledge, experience and technology to our talented fellow citizens who are the future of Myanmar. I am certain that this partnership will be the core stimulant that helps drive the development of our country.”

Stuart Dean, CEO GE ASEAN, commented, “We have been present in Myanmar since 2012 when sanctions were lifted and our entry into the local market has been an encouraging journey as we strive to help the country develop its infrastructure. Today’s announcement reflects our long-term commitment to grow with Myanmar and partner with local corporates and the government to solve the tough challenges faced in the Oil & Gas sector. While we have created in-roads in our Oil & Gas business, there is much to be achieved for the country and its people. GE has the technology and solutions to contribute to efforts planned to accelerate Myanmar’s economic competitiveness.”

The scope of the joint venture with SMART Technical Services covers GE Oil & Gas Drilling and Surface Solutions, including equipment and services, to help accelerate oil and gas projects in Myanmar.

GE’s extensive portfolio of products and services for drilling and production comprises surface wellheads, flow control equipment, blow-out preventers and riser equipment. Its broad range of land applications range from shallow, low-pressure wells to critical service wells drilled to depths of more than 20,000 feet, requiring many casing strings, large rigs and reliable high-pressure and temperature solutions. Offshore applications include different types of fixed and floating platforms such as jack-up drilling rigs, floating drilling rigs and floating production, storage and offloading (FPSO) units. GE also designs and engineers some of the most advanced down-hole systems. These include measurement and logging while drilling (MWD and LWD) systems to help evaluate and monitor oil and gas wells and fields. In addition, GE provides artificial lift solutions such as electrical submersible pumps and Lufkin lifting solutions to help maximize oil production and recovery. GE in Myanmar is led by its Chief Country Representative Andrew Lee, who is of Myanmar origin with experience in marketing and business development in Myanmar and the US. Myanmar is GE’s ninth country in ASEAN. GE has been in the region for over 100 years with revenue exceeding USD 3 billion and orders of approximately USD4 billion. The company has a workforce of close to 7,500 employees in ASEAN.