USA: Dresser-Rand to Supply $250 M Worth of Turbomachinery for Five Major Offshore Projects

  • Business & Finance

Dresser-Rand Group Inc. (“Dresser-Rand” or, collectively with its affiliates, the “Company”) , a global supplier of rotating equipment and aftermarket parts and services, has been awarded over the past thirty days, compression and power generation equipment worth approximately $250 million in advanced turbomachinery for five major offshore projects.

They involve a floating, production, storage and offloading (FPSO) vessel, a semi-submersible, a tension leg platform and two fixed-leg platforms located in various fields from South East Asia to the Gulf of Mexico.

Dresser-Rand will supply eleven gas turbine generator sets, three gas turbine mechanical drive packages and five DATUM compression trains in pressure boosting and export gas services. The units will be manufactured at the Company’s facilities in Olean, New York, Le Havre, France and Kongsberg, Norway.

“We are pleased that Dresser-Rand has been selected to supply compression and power generation packages for these projects,” said Jesus Pacheco, Dresser-Rand’s executive vice president, New Equipment Worldwide. “These awards reflect the confidence our clients have in the value of Dresser-Rand’s technology and our delivery record. All the power generation projects had particularly critical delivery needs, and our clients rely on Dresser-Rand’s commitment to short cycle times as well as our on-time delivery record”, adding that “we have delivered every gas turbine generator set on-time for the last five consecutive years, which we believe is an unmatched record in the industry for this class of equipment.

“These contracts are reflective of our continued strong position in supplying custom-engineered solutions for offshore production environments, whether they are arctic or tropical, shallow or deepwater, and for fixed or floating facilities. Moreover, these are representative of our expertise and the superior value Dresser-Rand delivers to clients who require highly specialized packages for mission critical applications. Our equipment meets the highest requirements for design, maintainability and maximum equipment availability” said Pacheco.

The compression systems and gas turbine generator packages are expected to start shipping in late 2011 through the second quarter of 2012.

According to Vincent R. Volpe Jr, President and CEO, “these fourth quarter bookings are in line with prior guidance and indicative of the continuing strength in the recovery of our end markets, particularly the upstream segment. On this basis we reiterate our expectation that the new unit bookings for 2010 will be in the range of $1.1 to $1.3 billion. Additionally, as we now look into 2011, we are confident that we will see an increase in bookings on a year over year basis.”

About Dresser-Rand

Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. The Company operates manufacturing facilities in the United States, France, United Kingdom, Germany, Norway, India, and China, and maintains a network of 39 service and support centers covering more than 140 countries.

Dresser-Rand has principal offices in Paris and Houston and reported revenues of $2.29 billion in 2009.

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