Houston, February 23, 2000
Weatherford International, Inc. (NYSE: WFT) announced that its gas compression division, Weatherford Global Compression Services, has acquired Singapore-based Gas Services International (GSI), Ltd. The acquisition will expand Weatherford Global’s platform of full service capabilities in the Asia-Pacific and Middle East areas.
GSI’s main business units include compressor package rental, maintenance and service, and floating production storage and offloading platforms. The company’s service branches include Indonesia, Dubai and Singapore, which also is the location of GSI’s 60,000 sq. foot facility.
“The acquisition of GSI will provide Weatherford Global with a strong presence in the fast growing Asia-Pacific area and will complement our existing operations in Thailand,” said Bruce F. Longaker, President of Weatherford Global.
Weatherford Global Compression Services is a single-source provider of natural gas compression solutions to a variety of customers worldwide. Its solutions comprise the widest choice of compression services in the business, including full service turnkey compression project management, a large fleet of rental compression units, maintenance and reconditioning services for customer-owned equipment, custom engineered compression systems, innovative financing programs and used equipment.
Houston-based Weatherford International, Inc. (http://www.weatherford.com) is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling, completion and production sectors of the oil and gas industry. Weatherford operates in over 50 countries and employs approximately 10,000 people worldwide.
Contacts:
Don Galletly (713) 693-4148
Michael Honea (972) 751-8520
Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027
713-693-4000