GE, Chevron Launch Technology JV to Solve Oil, Gas Issues

GE Oil & Gas is teaming up with Chevron to jointly develop and commercialize technologies aimed at solving critical issues for the oil and gas industry, GE said Monday. 

Among a flurry of announcements made at the GE Oil & Gas Annual Meeting in Florence, the firm said that it and Chevron have created the Chevron-GE Technology Alliance. The alliance is designed to build upon a current collaboration on flow analysis technology for oil and gas wells and will use research and development from GE's new Oklahoma-based Oil & Gas Global Research Center, which GE announced in December.

"Chevron's deep understanding of the oil and gas industry, combined with GE's long tradition of technology development and close collaboration with strategic partners, will uniquely position this new alliance to address the industry’s technology needs," GE Oil & Gas CEO Lorenzo Simonelli commented in a statement.

"The solutions developed by this alliance will take on even more industry significance given Chevron's proven leadership in being first to field-test and deploy new technology breakthroughs."

GE also announced Monday that it had made its first sale of its advanced ICL compressor technology in Latin America in a deal with France's Total. The firm said that Total will install two of GE’s single-stage Integrated Compressor Line units at the Incahuasi project on the Ipati-Aquio Block in Bolivia.

Incahuasi is an onshore project designed to enhance natural gas development in Bolivia, boosting natural gas reserves and helping the Bolivian government to comply with export contracts with Brazil and Argentina.

GE's ICL technology is driven by a high-speed electric motor rather than a gas turbine. As a result, claims GE, it generates zero emissions, so offering environmental benefits over conventional compressors.

"The choice of this technology compared to conventional compressor equipment fully corresponds to Total's strategy of deploying integrated high-speed induction motor-driven compressor technology for upstream applications, whenever this is feasible, as it brings greater operational and environmental benefits, which is the case for our Incahuasi development activities," Bernard Quoix, head of Total E&P Rotating Machinery, said in a company statement.

The sale of these two units means that GE has now sold 26 ICL units globally.

In yet another deal announced at the GE Oil & Gas annual meeting, offshore drilling contractor North Atlantic Drilling will purchase two next-generation GE Oil & Gas SeaONYX blowout preventer control systems for its semi-submersible West Venture (DW semisub) rig and West Navigator (DW drillship) unit.

SeaONYX is designed to extend system availability by incorporating multiple redundancies and hot-swappable components in order to keep operations online. 

"Once SeaONYX is on board, the architecture is in place to incorporate a broad array of monitoring and intelligent systems that have the potential to virtually eliminate unplanned downtime," GE Oil & Gas Drilling Systems President Chuck Chauviere said in a statement.



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