National Oilwell Varco (NOV) and GE Oil & Gas have signed an agreement to cooperate in the delivery of integrated solutions for Floating Production Storage and Offloading (FPSO) vessels.
Under the agreement, the companies will gather complementary product offerings and engineering capabilities to optimise their topside solutions for FPSO projects.
“We can materially improve deep water production economics by industrialising the supply chain and standardising complex interfaces between our complementary topside equipment”, NOV Chairman, President and CEO Clay Williams, said.
NOV And GE Join Forces On FPSO Delivery
The new, combined platform is expected to provide industry-leading topside systems with repeatable deliveries, scale economies and standardised interfaces, which are expected to reduce risk of construction delays and cost overruns for deep water oil and gas customers,” the companies informed in a statement.
The platform will also integrate digital solutions to optimise performance and provide predictive analytics through the life of the FPSOs, ensuring a quicker adaptation to various operating parameters.
GE Oil & Gas may also involve other GE business in this collaboration with NOV.
The industrialised manufacturing supply chain, together with digital solutions and global service and aftermarket capabilities, is expected to maximise efficiencies in the life cycle of the vessels, as well as drive down the cost of offshore oil field development, the companies stated.
NOV And GE Bring Added Value With Digital Solutions
The two companies expect to start offering combined solutions by the beginning of 2017.
“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 deep water production development,” Williams added.
“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,” GE Oil & Gas President and CEO, Lorenzo Simonelli, said.
“Digital solutions will add even more value to the agreement. Digitisation has become not only a competitive differentiator, but increasingly a necessity to help our customers make their businesses stronger long-term,” he added.