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National Oilwell Varco and GE Oil & Gas Cooperate to Provide Integrated Solutions for Floating Production Storage and Offloading (FPSO) Vessels
- NOV and GE Oil & Gas bring together complementary products and capabilities to deliver fully integrated solutions to the offshore production market
- New FPSO industrial platform enables repeatability and provides greater value to customers through economies of scale
- Enhanced designs, technology and industrialized supply chain expected to improve the life-cycle economics of offshore development
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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 successfully 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 advanced technology solutions for many of the world’s most 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 & processing technology.
GE Oil & Gas may also involve other GE businesses in the collaboration with NOV.
The new, combined platform will provide industry-leading 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 life-cycle 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
“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
NOV and GE Oil & Gas remain independent suppliers of equipment, services and systems.
Statements made in this press release that are forward-looking in nature
are intended to be “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934 and may involve risks
and uncertainties. These statements may differ materially from the
actual future events or results. Readers are referred to documents filed
About GE Oil & Gas
GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future. www.geoilandgas.com. Follow GE Oil & Gas on Twitter @GE OilandGas.
For National Oilwell Varco, Inc.
Vice President of Investor & Industry Relations
Chief Sales Officer, NOV Completion & Production Solutions
For GE Oil & Gas
Barbara Del Sala
External Affairs Manager, GE Oil & Gas
T: +39 055 4586980
M: +39 342 5635184
Hill + Knowlton Strategies for GE Oil & Gas
Federica Di Persio
Communication Partner – Turbomachinery Solutions, GE Oil & Gas
T: +39 055 458 6437
M: +39 3489370079