At next week’s 2015 Offshore Technology Conference, 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 Management 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*. 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:
* Source composite view GE Oil & Gas (Barclays, IHS CERA): $298 in ’14 VS $267 in ‘15.
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