SINGAPORE, Oct. 30, 2017 /PRNewswire/ -- Singapore-based WEFIC and Australia-based KINETIC jointly announced the launch of a service facility in August, 2017, marking an important milestone in their joint efforts in promoting high-end marine wellheads in Australia.
Willy Ben Ng, Vice President of WEFIC, said: "Given the strong market demand for wellhead products and the tight delivery requirements in relation to the Australian market, WEFIC decided to partner with KINETIC in setting up a service facility in a bid to more rapidly meet customer's expectations and alleviate customer's pressure on warehousing and financing." WEFIC will take advantage of KINETIC's resources in warehousing and logistics, installation and debugging competences as well as in the localized services across Australia and New Zealand. With the support from WEFIC in terms of being able to provide the world's leading wellhead products, technologies and training, KINETIC plans to expand its business scope to sales and maintenance of high-end wellhead products, in addition to its existing well intervention and logging services.
WEFIC's high-end wellheads feature leading innovations such as modular and nested hanger configurations, as well as the ability to perform drilling operations without the need to dismantle the blowout preventer (BOP), collectively minimizing the operation risk, -saving the installation time by 24-30 hours and cutting the installation costs by approximately US$100,000 per well. The wellheads are gaining increasing popularity among Australian customers.
Willy noted that WEFIC, KINETIC and local customers all stand to benefit from the service facility. In addition to providing the product and service support for conventional oil and gas wellhead development and unconventional CBM wellhead projects at the local level, the service facility will help WEFIC enhance its presence in Australia, New Zealand and Papua New Guinea.
WEFIC, a wholly-owned subsidiary of Kerui Petroleum, specializes in the research and development of conventional wellheads, high-end wellheads, valves and onshore Christmas tree equipment backed by a world-class team of wellhead professionals in Singapore. KINETIC focuses on well intervention services, fluid management and production services, logging and production chemicals, with service facilities in Australia and New Zealand.
Photo - https://photos.prnasia.com/prnh/20171030/1975957-1
