August 24, 2016 4:29 AM ET

Energy Equipment and Services

Company Overview of GE Oil & Gas SpA

Company Overview

GE Oil & Gas SpA develops, manufactures, and provides technology equipment and services for the oil and gas industry in Italy and internationally. It offers air-cooled heat exchangers, centrifugal pumps, compressors, reactors, steam condensers, reducing and metering systems, turboexpanders, control and safety valves, hydraulic actuators for surface drilling, capital drilling equipment, floating production systems, mudline equipment, and subsea and surface drilling and production systems. The company offers contractual, remote monitoring and diagnostic, multivendor, pipeline inspection, technical support, and maintenance and repair services; OEM spare parts; and technical training in plant an...

Via Felice Matteucci, 2

Florence, FI 50127

Italy

Phone:

39 05 54 23 82 80

Fax:

39 05 54 23 28 00

Key Executives for GE Oil & Gas SpA

Chief Executive Officer and President
Age: 43
Chairman of GE and Chief Executive Officer of GE
Age: 59
Chief Executive Officer for Latin America and President for Latin America
Global Sales Leader
Chief Operating Officer of Drilling & Production Systems
Age: 58
Compensation as of Fiscal Year 2016.

GE Oil & Gas SpA Key Developments

National Oilwell Varco and GE Oil & Gas Cooperate to Provide Integrated Solutions for Floating Production Storage and Offloading Vessels

National Oilwell Varco, Inc. and GE Oil & Gas announced the execution of an agreement to collaborate on delivering integrated solutions for Floating Production Storage and Offloading (FPSO) vessels. The agreement brings together the complementary product offerings and engineering capabilities from two industry leaders 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 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. 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 life-cycle efficiencies and drive down the cost of offshore oilfield development.

GE Oil & Gas Introduces Series of Offshore Solutions

GE Oil & Gas has introduced a series of offshore solutions to reduce downtime of offshore operations. The three trains will be used as part of the reinjection in the BCS Srednebotuobinskoe oil field in East Siberia, Russia, operated by Taas - Yuryakh Neftegazodobycha LLC, a Rosneft subsidiary. The compressors will be manufactured in Florence, Italy. The three trains will be delivered from GE Oil & Gas by December 2016. GE's HPRC unit, its smallest and lightest compressor yet, requires fewer units per train, significantly reducing overall footprint by up to 50%. The HPRC has a shipping weight up to 30% lighter and has lower power consumption with 5% less installed power. These combined innovations allow for easier installation, increased reliability and reduced operating costs compared to traditional compression trains. The SeaPrime BOP Control System translates electrical controls from the surface to hydraulic controls subsea that operate Blowout Preventer (BOP) systems. Designed to operate as deep as 12,500 feet below sea level, SeaPrime is the first fault-tolerant design with the ability to re-route hydraulic functions while remaining subsea, preventing costly stack pulls. This allows drilling contractors to continue drilling, reducing BOP downtime. By simplifying access to critical components, utilizing only two pods, leveraging smart redundancy and re-routing hydraulic functions within a POD, the SeaPrime I system delivers three times more availability than existing systems without increasing maintenance. GE Oil & Gas' Flexible Pipe business is undertaking a significant investment to develop and manufacture the next generation of flexible risers by utilizing composite technology to create a 30% lighter flexible pipe solution. Composite Flexible Pipe expands the reach of flexible risers and flowlines into deeper waters and more challenging environments while delivering a 20% saving on total installed cost. This light-weight solution is a step-change as global offshore resources shift to more remote locations with extremely complex and demanding conditions. Flexible risers have been fundamental to the development and advancement of offshore exploration by enabling the widespread use of cost-efficient floating production units, enhancing the versatility of subsea layouts and providing benefits around installation and logistics plus effectively handling dynamic motion. GE Oil & Gas is at the forefront of developing the standards and practices for the incorporation of carbon-fiber thermoplastic composites into flexible pipe. This development incorporates industry-wide collaboration on standards with certification agencies, joint industry projects and GE's industrial network of Global Research Centers.

GE Oil & Gas Introduces Product & Digital Innovations to Increase Offshore Productivity, Reduce Downtime

GE Oil & Gas introduced a series of innovative offshore solutions to lower cost, improve reliability and reduce downtime of offshore operations. The technologies underscore the creativity of industry in finding myriad types of solutions to increase efficiencies and reduce costs. GE Oil & Gas' innovative offshore solutions and customer partnerships introduced include: Rosneft subsidiary to use latest design in new compressor technology, High Pressure Ratio Compression (HPRC) unit: smallest, lightest design to date GE Oil & Gas will supply UEC-Gas Turbines JSC, an integrator and supplier of high-efficiency power equipment, with three compressor trains equipped with GE's innovative HPRC units, including gearboxes and dry gas seal consoles. The three trains will be used as part of the reinjection in the BCS Srednebotuobinskoe oil field in East Siberia, Russia, operated by Taas - Yuryakh Neftegazodobycha LLC, a Rosneft subsidiary. The compressors will be manufactured in Florence, Italy. The three trains will be delivered from GE Oil & Gas by December 2016.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 30, 2015
ADVANTEC AS
 

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