Offshore Technology Leader to Unveil New Products and Partnerships at OTC
HOUSTON—April 30, 2015—At next week’s 2015 Offshore Technology Conference, GE (NYSE: GE) will demonstrate how it optimizes its cross-industry portfolio to provide game-changing value for the offshore oil and gas industry.
“The key to maximizing value in this price-challenged environment lies in providing cutting-edge solutions quickly, and delivering cost savings and operational efficiency for our customers’ existing and future operations,” said Lorenzo Simonelli, President & CEO of GE Oil & Gas. “It is clear that the industry has a great opportunity to enter a new era in the way it works. Taking the best technology, integrating systems through predictive software, and supporting assets through industry-leading thinking and on-the-ground-support must be viewed as one comprehensive strategy to stay competitive in the offshore market.”
GE is answering the offshore industry’s toughest challenges by providing its customers a one-stop shop to access industry-leading technical knowledge. This “GE Store” draws on innovation, global technologies and expertise from across the company in order to locate and accelerate development of advanced cross-industry technologies, tools and ideas. When offshore customers do business with GE, they are tapping into the full breadth of technological expertise, experience and thinking from over 50,000 experts across the whole company. Because of this, GE can bring innovative solutions, built on proven technologies, to the market to deliver for its customers faster and more efficiently.
"Our newly created GE Marine vertical allows us to combine the commercial and technical expertise across multiple GE businesses into one global infrastructure close to where our customers operate," Mark Begor, President & CEO of GE Energy Connections added. “We are excited about the opportunity to provide improved operating performance to our customers in the offshore industry by leveraging the GE store and its ability to tap the best brainpower and technology from across GE. The GE store enables us to provide innovative solutions from our Power Conversion business that power, propel and position critical marine applications.”
Given the cost constraints the industry is facing, operators are looking to get more from their assets. Capital expenditure in the sector is expected to reduce by $30bn this year alone (1). However, the challenges remain the same, with operators focusing on reducing downtime and increasing productivity.
GE is committed to supporting its customers in responding to these requirements during this CAPEX constrained era. Many of the products developed in the GE store do just this. At OTC, GE will showcase and provide technological deep dives into the following solutions and new partnerships to demonstrate the significant value GE can deliver to the offshore industry:
• SeaStream™ Insight: At the forefront of GE’s Industrial Internet, SeaStream™ Insight is the latest innovation in offshore remote monitoring and asset support. Offering customers total visualization, service and management of their monitored assets and operations, it addresses the key challenges of the offshore industry, helping to maximize customer revenue, productivity and efficiency through analytics based operations.
• InspectionWorks Connect: GE Measurement & Control will offer live demonstrations of InspectionWorks Connect, a remote collaboration software platform for asset reliability inspections. InspectionWorks Connect allows nondestructive testing inspectors to access live video and data in real time, which can shorten the duration of large, complex inspection jobs like maintenance turnarounds and equipment commissioning.
• Diesel Engine Innovation: GE’s family of medium-speed marine diesel engines includes 12- and 16-cylinder V250 models and 6- and 8-cylinder L250 models that range from 1.3 MW to 4.7 MW. GE offers an innovative non-Selective Catalytic Reduction (SCR) technology for its L250 and V250 series diesel engines that requires no urea-based after-treatment. Eight years in the making, this technology reduces key emissions by more than 70% and enables in-engine compliance with EPA Tier 4 and IMO Tier III emissions standards.
• HPRC (High Pressure Ratio Compression): Technology based on an innovative architecture that combines unshrouded and shrouded impellers on a single high-speed shaft to achieve pressure ratios and efficiency levels higher than other available technologies. As result of the increased head per stage, HPRC units have a shorter bearing span that reduces the number of casings required. Applications that would typically require multiple compressor bodies will only need one with HPRC. Individual HPRC units are already smaller and lighter than traditional compressors, and the elimination of units per train is another giant improvement in overall plant footprint, reliability, availability and weight.
• GE's Water & Process Technologies offers broad solutions for upstream chemicals, sulfate removal and enhanced oil recovery including pretreatment filters, NF membranes, upstream chemicals, remote monitoring & diagnostics, pre-engineered solutions, and more.
For show interviews, video and live updates, visit the landing page at www.geoilandgas.com/otc. You may also visit GE’s booth for a technology tour at # 3163.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at 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.
About GE Energy Connections
Energy Connections is GE's electrification business. We make energy safer and more useful through our ability to transmit, distribute and convert electricity. We integrate leading products and technology to solve customer problems. Energy Connections's electrical solutions allow utilities and energy-intensive industries such as oil & gas, marine, data centers, metals and mining to efficiently manage electricity from the point of generation to the point of consumption.
About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.
Follow GE Power & Water and GE’s water business on Twitter @GE_PowerWater and @GE_Water
For more information, contact:
GE Oil & Gas
+1 202 637 4108 - direct
+1 202 549 6462 - mobile
Global Communication Leader
GE Power Conversion
+33 1 53 59 28 44
+33 6 20 71 14 21
(1) Source composite view GE Oil & Gas (Barclays, IHS CERA): $298 in ’14 VS $267 in ‘15.