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November 10, 2007
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Home / Issue Archive / 2007 / July #7 / Weatherford Signs Agreement with Kosmos-Neft-Gas

№ 7 (July 2007)

Weatherford Signs Agreement with Kosmos-Neft-Gas

Weatherford International Ltd’s (NYSE: WFT) Russian operations and Kosmos-Neft-Gas recently signed a joint manufacturing and technology agreement to manufacture well control and automation control panels for Gazprom’s growing production optimization needs in Russia.

Kosmos-Neft-Gas has been a manufacturing supplier in the Russian market since 1994. Having access to Weatherford’s engineering and technology expertise in production optimization will help the company further increase its footprint in the emerging oilfield technology market sector in Russia.
For Weatherford, Kosmos-Neft-Gas provides an avenue to more rapidly grow its production optimization business through local expertise, a local supply chain, and a local sales channel.

“This agreement breaks new ground for Weatherford’s production optimization business in Russia,” said Kamil Zakirov, Regional Vice President for Russia, Caspian, and the former Soviet Union. “We recognize the importance of partnership agreements with companies that have a good reputation for supplying the local market. Kosmos-Neft-Gas will provide us with that experience.”

The agreement will support both sides in increasing competitive capacities regarding product and service supplies to the new fields offshore and at far north.

Under the terms of the agreement, Kosmos-Neft-Gaz, with Weatherfords production optimization facility in Great Yarmouth in the UK, will jointly design, engineer and manufacture a wide variety of control systems used in exploration and production.

Control panels are used in all areas of production optimization, in the form of single and multiwellheads controls, artificial lift systems, safety shutdown systems and complex subsea systems.

The Financial & Industrial facility where the control panels will be manufactured includes two project offices a production complex and R&D facilities.
The facility is staffed by highly qualified personnel from the defense industry who design and manufacture a full range of equipment, providing a secure and fully automated operation for the gas industry.

FIC KOSMOS-NEFT-GAS and OAO GAZPROM also formed an agreement in 1994 to create high-tech equipment for OAO GAZPROM. Kosmos-Neft-Gas currently manufactures and engineers flare systems and control panels for the Russian market in Voronezh.

Weatherford is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs more than 33,200 people worldwide. The company’s operations in the former Soviet Union currently include more than 2,000 people operating in twenty facilities in six countries.

Source: Weatherford

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