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ITT Signs Corporate Procurement Agreement with Aramco

Source: www.gulfoilandgas.com 6/27/2011, Location: Middle East

Saudi Arabian Oil Company (Saudi Aramco) and ITT Corporation announced that they have signed a comprehensive seven-year strategic partnership agreement for ITT to provide products and services to the world’s largest oil producer for oil, gas and petrochemical projects in Saudi Arabia and internationally. The agreement was signed by Munir Rafie, vice president Materials Supply of Saudi Aramco and Robert Pagano Jr., president of ITT’s Industrial Process business.

Under this agreement, which comes into effect immediately, ITT and its partner Aswad Group will provide products — including Goulds pumps, BIW well-head connectors, ProSmart® predictive condition monitoring systems and PumpSmart® advanced pump controls — and services through ITT Saudi Co. Ltd, ITT’s local manufacturing and service operation, located in Dammam Second Industrial City.

ITT Saudi will provide professional expertise to support start up and commissioning of all types of pumping systems. ITT Saudi will also provide expert aftermarket services to support Saudi Aramco’s operations through ITT PRO Services® and Plant Performance Services programs, which are designed to help customers lower total cost of ownership, minimize downtime and increase equipment reliability.

The agreement also covers several strategic initiatives, including a program whereby ITT will support the Kingdom of Saudi Arabia’s Saudization efforts to enhance local industrial manufacturing capability, develop local supply chains and improve overall plant performance for Saudi customers.

“This agreement and our partnership with Saudi Aramco is a significant milestone in our oil and gas sector growth plans,” said Pagano. “The oil and gas industry is now the largest segment of our Industrial Process business, and we are proud to bring our highly customized solutions and applied engineering expertise to customers in this growing global market.”

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