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Offshore

Judy Maksoud
International Editor

HOUSTON -- M&I Electric Industries Inc. has changed its name to American Electric Technologies Inc. (AETI). The company made this announcement at a press conference at the Offshore Technology Conference May 1. AETI, which has been in business in Texas since 1946, now has offices in Mississippi, Singapore, and China and serves a global market.

"AETI is not a new company," said Dale Reeder, vice president of marine marketing at AETI, "but it represents new technology to most of the drilling contractors."

Reeder and others from AETI's executive staff explained the value of AC variable frequency drives (VFDs) to increase drilling effectiveness, increase rig safety, and reduce capital costs. The company discussed the value of the new technology to offshore operators who will benefit from upgrading rig power infrastructure with VFDs.

Arthur Dauber, AETI president and CEO discussed his views about why the industry needs to adopt VFD technology. "Today's sophisticated power delivery systems have moved from a supporting actor to a starring role as they enable greater efficiency, safety, and drilling effectiveness," Dauber said. "Operators need to spend as much time on end-to-end power generation and delivery planning as they do planning their mechanical drilling equipment selection."

Reeder put forward a number of reasons for end-to-end power planning, including a number of benefits of using VFDs, such as reduced weight, improved drilling efficiencies, increased safety, and reduced maintenance expenses.

The company is investing in extending the capabilities of its products to increase productivity and profitability in offshore drilling operations.

"We are posed for continued and rapid growth," Dauber said.

5/1/2007