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May 27, 2015 8:20 PM 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: 41
Chief Financial Officer and Vice President
Chief Executive Officer of Drilling and Surface
Age: 43
Chairman of GE and Chief Executive Officer of GE
Age: 57
Chief Executive Officer of GE Energy Management
Age: 45
Compensation as of Fiscal Year 2014.

GE Oil & Gas SpA Key Developments

GE Oil & Gas Announces the Release of InspectionWorks Connect

GE Oil & Gas, announced the release of InspectionWorks Connect, a remote collaboration software platform for the nondestructive testing (NDT) and inspection industry. InspectionWorks Connect provides real-time access to live inspection video and data from anywhere in the world, which enables smarter, faster decision-making, improves inspector productivity and reduces training costs. Technological advancements, such as InspectionWorks Connect, allow organizations to operate with greater inspection productivity, conduct more accurate, consistent inspections and shorten the learning curve for new inspectors. Real-time collaboration during asset inspections can deliver many asset reliability, process safety management (PSM) and productivity benefits for asset owners, including: Improved probability of detection and reduced false indications by allowing an expert second opinion on critical inspections, improved inspection productivity and faster startups during large, complex inspection jobs like maintenance turnarounds, quicker response and reduced travel costs for urgent inspections by allowing experts to participate remotely, rather than scrambling to an inspection site, faster and less expensive training for new technicians by giving them real-time access to expert support and a second opinion, improved safety and risk management outcomes by limiting inspector exposure to confined spaces, high temperatures, nuclear or security-critical inspection environments, inspectionWorks Connect is a secure, encrypted solution that is embedded on NDT devices without the use of any additional equipment, live video streaming of inspections. InspectionWorks Connect is currently available for use with visual inspections on the GE XLG3 and GE Mentor Visual iQ Videoprobes, as well as the Mentor EM eddy current portable.

GE Oil & Gas to Cut More Jobs in Lufkin

GE Oil & Gas would cut approximately 149 of approximately 358 manufacturing, sales/services, human resources, sourcing, materials, finance, administrative, engineering and other employees. The cuts include 98 employees who were let go Feb. 12, and the rest were expected to be cut on March 26.

GE Oil & Gas and Pertamina Drilling Service Indonesia to Cooperate in Developing Solutions for Drilling Equipment and Services

GE signed a Memorandum of Understanding with Pertamina Drilling Services Indonesia (PDSI) to cooperate in developing integrated solutions for oil, gas and geothermal equipment and services. The MoU sets the framework for GE and PDSI to jointly develop efficient and innovative drilling equipment and solutions for onshore and offshore applications. In addition, the cooperation will allow GEs Oil and Gas solutions to be more closely aligned with Pertaminas strategic objectives to better anticipate technology needsand streamline the delivery process. This will include assessing the possibility of joint business development to market equipment and services to support oil, gas and geothermal operations in Indonesia, as well as explore potential opportunities to develop equipment maintenance workshop facilities, spare parts inventory, and a technical training center, which will build local service capabilities for Pertamina.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
November 6, 2014
Lufkin Industries Inc.
 

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