improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . july 2008 learn how and when to remove this template message this article may require cleanup to meet wikipedia s quality standards . no cleanup reason has been specified . please help improve this article if you can . july 2008 learn how and when to remove this template message learn how and when to remove this template message vetcogray type private limited company by shares industry oil and gas equipment services founded 2004 headquarters london uk key people peter goode group ceo & ceo vetco gray r. rasmus sunde ceo vetco aibel bobby smith executive chairman alexander pendez product manager alex bakhshov general counsel products upstream production facilities maintenance & modifications facility management process systems & products surface wellhead systems surface capital systems subsea drilling systems subsea production systems number of employees 11 000 2006 parent ge infrastructure oil & gas website http site.ge energy.com businesses ge oilandgas en our brands vetcogray.htm vetco was established in july 2004 and operated through its subsidiaries vetco gray and vetco aibel as . vetco was the result of a consortium consisting of the private equity firms candover 3i and jp morgan partners taking over abb s oil and gas division ; abb offshore systems . vetco was made out of companies that have serviced the upstream oil and gas industry since 1903 . these companies are suppliers of products systems and services for onshore and offshore drilling and production project management engineering procurement and construction services process systems and equipment maintenance modification and operations . vetco was headquartered in london uk and employed over 10000 people in more than 30 countries worldwide . citation needed contents 1 operations 1.1 aibel 1.2 vetcogray 2 history 2.1 vetcogray 2.2 vetco aibel 3 track record 3.1 vetco aibel 3.1.1 topsides 3.1.2 products 4 see also 5 references 6 external links operations edit aibel edit aibel is a provider of project management engineering procurement and construction services including epc projects process systems and equipment maintenance modification and operations to the upstream oil and gas industry . aibel employs more than 7 000 people in 17 countries . vetco aibel is along with aker kv rner one of the largest companies operating in the north sea and aibel s hq is at billingstad norway . vetcogray edit on jul 30 2008 in egypt s gulf of suez the company converting an exploration well to full production converting a mudline exploration system to an sg 1 wellhead subsea system for production duty . the newly converted well entered service in april of that year . 1 based in cairo egypt agiba petroleum company a joint venture company between the egyptian general petroleum corporation egpc and eni produces approximately 50 000 barrels of oil per day . eni an italian multi national oil and gas company has operated in egypt since 1959 . history edit vetcogray edit vetcogray is a combination of a number of companies including regan offshore ventura tool company gray tool company . the ventura tool company was formed in 1930 by carl and fritz huntzinger . 2 3 fritz huntsinger purchased the existing schwab lane tool company on ventura avenue in ventura california and changes its name to the ventura tool company . the company repaired pumps and other machinery in the oilfield ; it grew slowly through the depression but by 1937 had 50 employees and had become well established on the avenue . ventura tool improved upon the existing boroscope an instrument used for inspecting cannon barrels . huntsinger had a light added to the tip and the instrument which used a wide angle lens to relay images back to its operator could be used for locating defects in petroleum pipes . this innovation revolutionized the inspection of petroleum pipes for defects . ventura tool gradually added new techniques for use in these inspections and the company grew further . it acquired the master thread company pressure weld inc. and tube upset corporation . the company specialized in pipe repair and began to develop a high speed drill in the 1940s .41 it also began manufacturing tools for the air force . the company would eventually change its emphasis and reincorporate as vetco offshore industries inc. in the late 1950s . vetco was sold in the 1980s to houston based combustion engineering c e and moved away from its original base in the ventura oil field . vetco gray was then acquired by hughes tool in 1986 for 270mm . 4 unfortunately for hughes tool the acquisition occurred just as oil prices were collapsing and baker hughes the successor to hughes tool disposed of 70.1 % of vetco gray to bain capital funds for just 3.8 mm . 5 bain capital sold vetco gray to abb in 1991 . 6 between 1991 and 2001 vetcogray completes acquisitions in canada mexico argentina and the uk . in 2004 he abb vetco gray oil and gas business was acquired by a consortium 6 consisting of the private equity firms candover 3i and jp morgan partners . in february 2007 ge oil & gas acquired the company . david tucker appointed as chief operating officer for vetcogray . 6 vetco aibel edit traces its roots to elektrisk bureau eb and norsk elektrisk & brown boveri nebb that were founded a century ago . these companies evolved to what today is the norwegian part of abb a separate offshore business eb offshore was founded in 1989 . through acquisitions of seatec maritime seanor and umoe oil and gas as well as organic growth the current vetco aibel evolved track record edit fpsos berge helene petrojarl i norne sgard a sendje berge berge hus chinguetti alvheim vittorio golfinho ii ettrick vincent ngujima yin vetco aibel edit topsides edit alvheim fpso marathon epc topsides volve m rsk statoil epc topsides kvitebj rn statoil epc topsides ringhorne esso epci platform troll c hydro epc semi visund hydro epc semi heimdal 2000 hydro epc platform jotun b esso epci platform valhall wp bp epci platform products edit norsk hydro troll c field . start up july 2003 . solved emulsion problems and increased production . bluewater munin xijiang field . start up october 2004 . oil production capacity increase . norsk hydro grane field . start up june 2005 improved separation of heavy oil . maersk oil qatar al shaheen field . start up 2005 solving emulsion problems . petrobras fpso jubarte p 34 test separator . delivered 2005 heavy oil . see also edit list of oilfield service companies references edit archived copy . archived from the original on december 18 2008 . retrieved december 4 2008 . california ventura county miscellaneous obituaries 56 . genealogybuff.com . http www.cityofventura.net files file updatedsurveyreport october2011.pdf hughes tool to acquire drilling unit . new york times . new york . july 31 1986 . retrieved 2015 08 20 . deutsche alex brown special opportunities funds investing in funds managed by bain capital . 2000 . p. 16 . a b c ge oil & gas celebrates 30th anniversary of its montrose facility . july 6 2012 . the group was acquired by abb in 1991 and became abb vetco gray . the abb vetco gray oil and gas business was acquired by a private equity syndicate in 2004 and it became vetco international . ge acquired the business in february 2007 external links edit vetco gray aibel retrieved from https en.wikipedia.org w index.php title vetco & oldid 738477722 categories engineering companies of the united kingdomoilfield services companiesprivate equity portfolio companies3i group companieshidden categories articles needing additional references from july 2008all articles needing additional referencesarticles needing cleanup from july 2008all articles needing 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