New Wave Media

 

National Oilwell Varco, Inc. (NOV) and GE Oil & Gas has agreed to collaborate on delivering integrated solutions for Floating Production Storage and Offloading (FPSO) vessels. The agreement brings together the product offerings and engineering capabilities from the two companies to optimize engineering design and supply comprehensive topside solutions for FPSO projects.

 

NOV engineers and manufactures advanced fluids pumping, treatment and processing systems; composite piping systems; cranes and deck machinery; and sophisticated, disconnectable turret mooring systems for FPSOs and related vessels. Additionally, NOV has installed and commissioned equipment on hundreds of vessels in dozens of shipyards for the oil and gas drilling industry.

 

GE Oil & Gas engineers and manufactures technology solutions for many of the world’s complex power generation and gas compression projects. Also, with its Subsea Production Systems, GE Oil & Gas offers a comprehensive range of solutions including subsea trees, manifold & connection systems, and power and processing technology. GE Oil & Gas may also involve other GE businesses in the collaboration.

 

The new, combined platform will provide topside systems with repeatable deliveries, scale economies and standardized interfaces, which are expected to reduce risk of construction delays and cost overruns for deepwater oil and gas customers. Additionally, the new platform will incorporate digital solutions, which will optimize performance and provide predictive analytics through the life of the vessels, enabling FPSOs to efficiently adapt to a wider array of operating parameters.

 

The industrialized manufacturing supply chain, combined with digital solutions and global service and aftermarket capabilities, is expected to maximize lifecycle efficiencies and drive down the cost of offshore oilfield development.

 

NOV and GE Oil & Gas expect to complete joint engineering efforts and commence offering topside package solutions to the oil and gas industry by early 2017.

 

“We can materially improve deepwater production economics by industrializing the supply chain and standardizing complex interfaces between our complementary topside equipment,” said Clay Williams, NOV’s Chairman, President and Chief Executive Officer. “For the past year we have quietly explored this new and better way to make floating production vessels and are excited about how this collaboration will change the industry and improve the economics of deepwater production development.”

 

“With this agreement, we are bringing together capabilities and expertise from GE Oil & Gas and NOV to better serve our customers and overcome oil and gas offshore industry challenges,” said Lorenzo Simonelli, President & CEO, GE Oil & Gas. “Digital solutions will add even more value to the agreement. Digitization has become not only a competitive differentiator but increasingly, a necessity to help our customers make their businesses stronger long-term.”