GE Oil & Gas Starts Strong in 2017 with Innovative Digital Customer Agreements

  • Series of innovative global agreements for products and services reflects company’s focus on technology development partnerships and co-creation to meet customer needs
  • Combination of digital solution deals and contract wins to provide cutting-edge energy sector technology
  • Announcements made as more than 1,000 customers, thought leaders and global influencers come together at the 18th GE Oil & Gas Annual Meeting in Florence, Italy

Florence, Italy; January 31, 2017: At its annual customer meeting, GE Oil & Gas (NYSE: GE) today announced new innovative agreements including a landmark technology cooperation agreement, contracts for subsea trees and wellheads, and a new Predix-enabled digital solution for equipment monitoring. The agreements are built from the continued partnership and collaboration between GE and its customers.

In today’s market environment, increased partnership and collaboration in the industry is crucial. With collaboration at its core, GE Oil & Gas is leading a new era of partnerships and product/project co-creation by developing not only new technologies but also new business models and performance-based service agreements to meet the needs of its customers.

“Collaboration is crucial to accelerate technology advancement, streamline specifications and enhance solutions that meet the challenges of the current environment and position our customers to thrive in the future,” said Lorenzo Simonelli, GE Oil & Gas President and Chief Executive Officer. “Through these new technology and advanced digital capabilities we are helping our customers improve equipment reliability, improve safety, reduce unplanned downtime and, ultimately, save costs.”

New technology offerings, deals and customer partnership agreements announced at GE Oil & Gas’ Annual Meeting include:

  • Enterprise Impact, the latest offering in GE’s digital portfolio, is an innovative advancement in condition monitoring, providing condition prioritization and unifying monitoring insights across a complete enterprise. Operation and Asset Managers in capital intensive process industries can now easily employ predictive and prescriptive analytics to quickly identify and prioritize machinery health issues across multiple monitoring technologies, improving operating efficiency, reducing maintenance costs, and increasing topline revenue. Enterprise Impact increases accessibility and usability across the System 1 suite, improving asset returns by moving from an individual machine view to an enterprise level of insights and analysis. It connects key data sources and systems like SmartSignal, Meridium and beyond, to enable broad deployment of Asset Performance Management (APM) on premise and in the Cloud. It adds robust prioritizations, detailed risk classifications, and rich failure analytics to enrich APM asset policies and strategies. A Predix-enabled data connectivity solution, Enterprise Impact includes a web-based dashboard for a single, secure access point for monitoring equipment and instrument health. Unlike, disconnected point solutions and single mode monitoring, Enterprise Impact provides holistic and proactive health information for the entire enterprise.

 

  • GE Oil & Gas and Total Refining & Chemicals entered a Technology Cooperation Agreement aimed at introducing innovative additive manufacturing techniques to the production of centrifugal pump impellers in GE's facility in Bari, Italy. The agreement represents a milestone in the process of adopting Additive Manufacturing as part of day-to-day operations in the production of equipment for oil and gas applications, including downstream. GE and Total have already successfully implemented additive manufacturing techniques for turbo-machinery products.  As part of the agreement, GE Oil & Gas will use advanced manufacturing methods such as 3D laser scanning and Direct Metal Laser Melting to 3D print impellers on a 1/1 scale, leading to a significant reduction in lead time – from months to an average of three weeks from 3D laser scanning availability – higher technology sophistication. This advanced solution to optimize the supply chain, by moving from physical to digital stock, could be an effective contribution to Total’s R&C units competitiveness. The first impeller will be in operation in a Total French Refinery within the second quarter of 2017.

 

  • GE Oil & Gas has been awarded a contract with Premier Oil Indonesia (Premier Oil Natuna Sea B.V.), for subsea trees and wellheads for the Bison, Iguana and Gajah Puteri (BIGP) fields, in the Natuna Sea. The scope covers subsea trees and wellheads, rental tools and field service support during the installation and commissioning stage. For the initial phase, Premier Oil Indonesia will issue a call out for three sets of subsea trees and wellheads with deliveries anticipated by Q1 2018. The subsea trees will be constructed at GE Oil & Gas’ facility in Batam, Indonesia, reflecting our commitment to increase local content and local capability for subsea projects in the region. The deal includes the GE Oil & Gas Tree on Mudline (TOM) series and the SG1 wellhead system, suitable for shallow water operations using jackup drilling rigs, and fully aligned to the needs of the operator.

 

  • GE Oil & Gas, PDI and EnerMech today launched eMERge, an innovative partnership supporting existing and new entrant North Sea E&P operators to maximize economic recovery of reserves. The strategic alliance will offer a range of integrated production and operational support services. It will help identify opportunities to increase productivity while reducing operating costs and downtime through unplanned outages, and offer services including project management, topside and subsea engineering, construction and commissioning, and field optimization solutions. The alliance combines GE’s technology, state-of-the-art digital solutions, products, services and financing capabilities, with PDI’s project management and engineering expertise, and EnerMech’s installation, commissioning and operational capabilities. The range and scope of service has been developed to ensure existing and new entrant operators can access integrated production, operations and maintenance optimization support services. eMERge aims to mirror the objectives of the UK Oil & Gas Authority’s Maximising Economic Recovery (MER) initiative.

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About GE

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. To learn more, please visit www.ge.com

About GE Oil & Gas:

GE Oil & Gas is inventing the next industrial era in the oil and gas sector. In our labs and factories, and in the field, we constantly push the boundaries of technology to solve today’s toughest operational & commercial challenges. We have the skills, knowledge and technical expertise to bring together the physical and digital worlds to fuel the future. Follow GE Oil & Gas on Twitter @GE_OilandGas or visit us at www.geoilandgas.com

 

For more information, please contact:  

               

Gavin Roberts                                                                                    Kate Gomes

GE Oil and Gas                                                                                   Hill + Knowlton Strategies

+44 07775 547365 mobile                                                            + 44 20 7413 3054

gavin.roberts@ge.com                                                                  kate.gomes@hkstrategies.com