Dresser-Rand Selected to Supply $44 million of Equipment to Total for FPSO

abarrelfullabarrelfull wrote on 27 Apr 2013 20:28

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Jan 08, 2008

Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC), a global supplier of rotating equipment and aftermarket parts and services, announced today that it will supply advanced turbomachinery for a floating, production, storage and offloading (FPSO) vessel for the Pazflor Field offshore Angola.

The award is approximately $44 million USD. Dresser-Rand will supply gas compression packages. Dresser-Rand will provide four DATUM(R) centrifugal compression trains. Two trains will be driven by gas turbines and two trains will be driven by electric motors. Dresser-Rand booked the order in December 2007.

"We are very excited about the floating production market which is a strategically important market for Dresser-Rand", said Jesus Pacheco, Dresser-Rand's executive vice president, New Equipment Worldwide. This award is representative of the value our technology brings to our clients. Our DATUM(R) technology adds value to Total by reducing the weight and footprint of the compression system, as fewer casings are required. It also maximizes gas throughput compared to competitor offerings as a result of the high efficiency of the compressors. We believe activity in the floating production market will continue to be significant and that our market share will remain strong."

Pazflor's floating production unit will operate in Block 17 and will be designed to handle 200,000 barrels of oil per day and will be able to store about 1.9 million barrels of crude. First oil production will be in 2011.

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