• Ichthys LNG, Nexen North Sea Projects among New Deals;
• Two-Day Florence Event Has Become an Industry Tradition;
• This Year's Theme: Leading Progress Together.
GE Oil & Gas (NYSE: GE) today announced new projects worldwide totaling nearly $1.3 billion in equipment and service contracts. The announcement was a highlight of the opening of the 2012 GE Oil & Gas Annual Meeting in Florence, which brings together leaders from around the globe to explore advanced technology solutions for all segments of the oil and gas industry,
Among the new projects announced:
Under contracts totaling nearly $1 billion, GE will supply a wide range of equipment and services for the Ichthys LNG project in Western Australia, being developed by INPEX Corporation and Total.
GE subsea production equipment, control systems and services have been selected for the Nexen Golden Eagle Area Development project in the United Kingdom’s central North Sea.
GE Oil & Gas will supply associated gas utilization technology for TNK-BP’s Verkhnechonsk oil and gas field in Eastern Siberia. The project calls for gas re-injection into an underground storage area for further reuse, rather than flaring, or wasting, that gas.
GE has been selected to provide key equipment for a floating oil production, storage and offloading platform being built to develop the Guará Norte section of the Tupi oilfield in Brazil’s Santos oil basin.
Additional announcements included:
GE has launched a Micro LNG plant that meets the smaller-scale LNG requirements of powering remote industrial and residential locations and fueling motor vehicles.
GE has signed a global frame agreement with Shell Global Solutions to supply compressors and associated services for Shell’s projects worldwide over the next six years.
GE has recently completed the first cycle of gas turbines modular replacement project at the Qatargas LNG plant in Ras Laffan Industrial City.
GE has successfully completed tests on the first of three LNG compressor trains being supplied for the development of Gorgon, one of the world’s largest untapped natural gas fields, off the coast of Australia.
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“After more than a decade, the GE Oil & Gas Annual Meeting has become an industry tradition. It provides an opportunity to see how far technology has advanced in the past 12 months and to discuss where it can go in the future,” said Dan Heintzelman, CEO of GE Oil & Gas. This year’s meeting theme, Leading Progress Together, reflects GE’s recognition that tackling the complex challenges facing the oil and gas industry requires leadership and increased teamwork. The meeting will focus on the collaborative effort that goes into every step forward. With an outstanding roster of speakers, panelists and technical presenters, this promises to be an exciting and thought-provoking event.”
During the annual meeting, panel discussions will cover such topics as working together to develop solutions for unconventional energy production, the value of partnerships, and the future of the global energy industry. In addition, global experts from across the oil and gas industry will lead technology forums that will address a wide range of topics including subsea exploration and production, enhanced oil recovery, LNG production, pipeline inspection techniques and technical advances in gas turbines and compressors.
“The competitive and environmental challenges of today’s oil and gas industry are driving the need for increased efficiency, reliability and environmental protection. How technology innovation can help our customers achieve those objectives will be a common theme winding through all of the presentations,” noted Heintzelman.
Along with the technology and general discussion sessions, the annual meeting also offers customers the choice of touring one of two GE facilities: the Florence plant, where compressors, steam and gas turbines and turboexpanders are manufactured and tested; and the Massa plant, which houses heavy wall reactors, large compressor machining and assembly, turbocompressor packaging and full load string testing.
In addition to GE, representatives from many of the world’s leading oil and gas companies will participate in the two-day event. Last year’s meeting drew 850 representatives from more than 70 countries and 200 companies, including leading experts and key decision makers across the industry.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy—GE Power & Water, GE Energy Management and GE Oil & Gas—work together with more than 100,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.
Kate Culman, Masto Public Relations
P: +1 518 786 6488 / E: kate.culman[.]mastopr.com.
Ken Darling, Masto Public Relations
P: +1 518 786 6488 / E: kenneth.darling[.]ge.com.
GE news, Masto Public Relations / E: information[.]mastopr.com.