6th May 2014 14:20
LONDON (Alliance News) - Engineering firm The Weir Group PLC Tuesday said that Weir Oil & Gas, a division of the group, has signed an agreement with German-based company Rolls-Royce Power Systems AG, to develop power systems specifically engineered for hydraulic fracturing.
The group said the system, which it will develop with the Rolls-Royce Power Systems company, MTU, will be used for hydraulic fracking operations during the well completion stage of shale oil and gas projects.
Weir Oil & Gas, a division of The Weir Group PLC, is the leading supplier of pressure pumping equipment to the North American upstream oil and gas market.
MTU is a brand of Rolls-Royce Power Systems AG. MTU high-speed engines and propulsion systems provide power for marine, rail, power generation, oil and gas, agriculture, mining, construction and industrial, and defence applications.
Weir said that it expects the fully integrated power system to be available to customers in mid-2015.
Weir Group shares were up 1.1% at 2,684.00 pence Tuesday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Weir Group