{"id":260275,"date":"2010-02-01T13:39:20","date_gmt":"2010-02-01T18:39:20","guid":{"rendered":"http:\/\/www.gereports.com\/?p=5079"},"modified":"2010-02-01T13:39:20","modified_gmt":"2010-02-01T18:39:20","slug":"ge-oil-gas-summit-starts-with-over-300m-in-deals","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/260275","title":{"rendered":"GE Oil & Gas summit starts with over $300M in deals"},"content":{"rendered":"

<\/span>For 900 business leaders gathered in Florence, Italy this week, having a \u201cpower lunch\u201d is something taken quite literally. Representatives from many of the world\u2019s largest oil and gas producers have assembled for today\u2019s kick-off of the 11th<\/sup> GE Oil & Gas Annual Meeting — which is an interactive set of working sessions and talks in which GE and global customers such as Chevron, Shell, Petrobras and ExxonMobil share best practices and tackle technology challenges. The Oil & Gas team is also making a number of announcements this week at the summit, including a new contract in Abu Dhabi valued at over $200 million; one in Slovakia for $102 million; and the first order of GE\u2019s latest subsea equipment by Shell U.K. for North Sea fields.<\/p>\n

\"In
\nStepping on the gas:<\/span> In his keynote address, Claudi Santiago, President and CEO of GE Oil & Gas, said, \u201cWe are innovating to meet tomorrow\u2019s energy challenges and over the next three years will spend more than $500 million on R&D.\u201d Many of GE Oil and Gas\u2019 breakthrough technologies come from GE\u2019s global research labs, but it also has refashioned innovations from GE\u2019s aviation, transportation and healthcare businesses.<\/div>\n
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In the video clip at left, Claudi Santiago tells the group that prospects for 2010 are \u201cmore encouraging,\u201d adding that emerging economies will likely be the source of new oil and gas demands. He also noted the \u201cbig role\u201d that gas will play in meeting growing electricity demands.<\/p>\n

Claudi also stressed key components of GE’s innovation strategy such as pursuing partnerships, leveraging technologies from sister industries at GE, and being the industry leader in testing prototypes and proving technology concepts.<\/p>\n

\"GE
\nHigh-tech bedfellows:<\/span> GE Oil & Gas has invested over $9 million in a new test bed to extend the capabilities of its Massa, Italy, facility, seen above, in preparation for the oncoming increase in liquefied natural gas, or LNG, activity. The new bed is designed for thermodynamic and mechanical tests on large compressors. Tours of the facility are being conducted for attendees at this year\u2019s summit.<\/div>\n
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\nMichael Bellamy<\/span><\/div>\n

As Michael Bellamy, General Manager of Marketing for GE Oil & Gas, says in the audio clip below: \u201cTo meet rising demand for oil & gas, oil companies are having to open up new production frontiers with reliable technology that minimizes risk, drives production efficiency and addresses environmental sustainability. In our industry, asset owners and operators are, quiet rightly, cautious and even conservative when considering the perceived risks associated with being the first to adopt new innovations. Therefore, reliable innovation is absolutely critical.”<\/p>\n

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\"Listen<\/a><\/div>\n<\/div>\n

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The Abu Dhabi deal announced today is to supply Hyundai Engineering & Construction with eight gas turbines and related services. Abu Dhabi\u2019s Habshan facility is one of the largest gas processing complexes in the world. Read the announcement.<\/a><\/p>\n

The Slovakia deal is to upgrade three pipeline compression stations — that were purchased in 1991 — to bring the facilities into compliance with new European Union directives to decrease carbon dioxide and nitrous oxide emissions. “This is a far more cost-effective solution than replacing this equipment outright with new units,\u201d said Rastislav Nukovic, director of strategic projects for the pipeline\u2019s operator, Eustream. Read the Slovakia announcement.<\/a><\/p>\n

And the subsea equipment deal marks the first order by Shell U.K. Ltd of GE\u2019s newest technology — the S-Series Subsea Tree — that has reduced its weight by 20 percent and is intended for harsh, shallow-water fields. Said Shell\u2019s Jan Duinhoven: \u201cReliable, more compact and cost effective solutions are required in the mature Southern North Sea to be able to profitably develop the remaining gas accumulations.\u201d Read the subsea equipment announcement.<\/a><\/p>\n

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\nStart ‘em up!<\/span> GE\u2019s Massa, Italy testing facility is seen here in an aerial view. The complex is designed to help customers avoid the typically more expensive and longer cycle test configurations used elsewhere. The Massa plant is located 75 miles west of Florence and packages turbo compressor units in addition to testing equipment. It also hosts new customer training facilities, where trainees can familiarize themselves with \u201clive\u201d start-ups of equipment.<\/div>\n

* Read today\u2019s announcement about the summit<\/a>
\n* Learn more about the 2010 annual meeting<\/a>
\n* Read the annual meeting agenda<\/a>
\n* Learn more with our Oil & Gas fact sheet<\/a>
\n* Read the \u201cInnovation Now<\/a>\u201d brochure
\n* Read more Oil & Gas stories on GE Reports<\/a>
\n* Read the Q1 2010 edition of the GE Oil & Gas Customer eNewsletter<\/a>
\n* Visit the Oil & Gas website<\/a><\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

For 900 business leaders gathered in Florence, Italy this week, having a \u201cpower lunch\u201d is something taken quite literally. Representatives from many of the world\u2019s largest oil and gas producers have assembled for today\u2019s kick-off of the 11th GE Oil & Gas Annual Meeting — which is an interactive set of working sessions and talks […]<\/p>\n","protected":false},"author":4069,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,7],"tags":[],"class_list":["post-260275","post","type-post","status-publish","format-standard","hentry","category-energy","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/260275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4069"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=260275"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/260275\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=260275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=260275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=260275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}