Dresser-Rand Group has signed a two-year agreement valued at approximately $100 million with Repsol YPF, an integrated oil and gas company. The agreement covers sales of all Dresser-Rand products and services.
One steam turbine project for the Tarragona refinery in Spain valued at approximately $13 million was secured in August 2007. Subsequently, in October, two projects for the Petronor refinery in Bilbao have been awarded with a total value of approximately $20 million. Dresser-Rand will supply one process reciprocating compressor, one DATUM centrifugal compressor and associated services.
Vincent Volpe, president and CEO of Dresser-Rand, said: We’re appreciative of the confidence that Repsol has placed in Dresser-Rand. As a new alliance partner, we look forward to working with Repsol to provide value-adding solutions through lowest life cycle cost for new equipment and minimal emissions.
We’re also pleased to supply equipment to the planned refinery expansions reflecting the continued strength of this market segment, particularly as it relates to expansion in the European market.