SYKESVILLE, MD – October 16, 2014 – Global energy services solutions provider GSE Systems, Inc. (NYSE MKT: GVP) (“GSE” or the “Company”) today announced that Specialized Petroleum Technologies, LLC (“SPT”), contracted with GSE to provide state-of-the-art training products and services to Kasipkor Holding’s Atyrau Petroleum Education Center in Kazakhstan. The SPT contract is among multiple new projects, with an aggregate value of $17.5 million, announced by GSE earlier this month.
The Atyrau Petroleum Education Center is an interregional center for training and retraining personnel in the oil and gas industry. The Center was established in the context of a world-class system of colleges by Kasipkor Holding. The main goal of Kasipkor Holding is to create a network of colleges that meet high international standards while implementing the world’s best practices for training and management in vocational and technical education (“VET”).
Under the SPT contract, GSE will provide a comprehensive training program to teach students fundamental sciences, process controls and other oil and gas technologies. GSE’s program includes a combination of computer-based tutorials, 2D and 3D visualization of key equipment for oil production and refining, exercise guides and comprehensive documentation. Specific tutorials and simulators include process equipment fundamentals, process controls, distillation, compressors, gas oil separation, amine treating, and glycol dehydration. In addition, GSE will provide basic refining simulators for common equipment such as furnaces, boilers and crude distillation units. The goal is to provide trained resources to support the growing oil and gas industry in Kazakhstan and internationally. To achieve the goal, all classes are being taught in English.
Kasipkor Holdings CEO, Eldana Sadvakassova, said, “Education of our workforce is a key strategic initiative for Kazakhstan. This program will not only help provide a trained workforce that can support the needs of Kazakhstan but also allow our young citizens to compete on the global market. To achieve this goal we are establishing a world-class training program, and Specialized Petroleum Technologies and GSE are key partners in realizing our vision.”