GE & amp; Gas is a subsidiary of the American multinational conglomerate General Electric which is now part of Baker Hughes, the GE company. Headquartered in London, United Kingdom, the company supplies equipment to the global oil and gas industry, which is used in applications across all segments of the oil and gas value chain, including drilling, underwater and offshore, land, LNG, distributed gas, pipeline and storage , refineries and petrochemicals.
GE Oil & amp; Gas also designs and manufactures surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turbo expander, high pressure reactors, industrial power plants and a broad portfolio of assistive devices. At the 2014 Investor Meeting, it was reported that GE Oil & amp; Gas operates 304 manufacturing and service stores in the world's major oil and gas extraction and production areas, and provides upgrades to customer machines. GE Oil & amp; Gas also provides pipeline integrity solutions, sensor-based measurements, inspection, and monitoring of asset condition, control and radiation measurement solutions.
In 2016, GE Oil & amp; Gas employs about 37,000, serving customers in more than 140 countries.
Video GE Oil and Gas
History
Formation
GE entered the oil and gas industry in 1994 with the acquisition of Italian company Nuovo Pignone (formerly owned by ENI), and has since continued to expand its global presence in the industry. GE's expansion in oil and gas is reinforced as a result of the big recession of 2009. The recession significantly affected GE's revenue and led to the company's decision to break away from a number of financial services firms to 'review its roots' as an industrial company.
Acquisitions and Divestments
2000-2010
In 2002 GE Energy acquired Bently Nevada Corp., a condition monitoring instrumentation company that provides services for sensors, systems, and engine vibration monitoring. Products include plant asset management systems related to vibration monitoring, machine protection, software, and engineering services. Currently, Bently Nevada products are seated under GE Measurement & amp; Control section.
In 2007 GE announced the expansion of its presence in the oil and gas sector, with the acquisition of VetcoGray $ 1.9 billion. VetcoGray operates in about 30 countries and is one of the world's leading suppliers of drilling, completion and production equipment for offshore and offshore oil and gas fields, including underwater applications.
Also in 2007, GE purchased an oil field service company based in the UK, Sondex Plc. specialized in engineering and manufacturing drilling systems and directional formation evaluation and wireline tools for oil and gas production.
In 2008 GE acquired Hydril Pressure Control, a supplier of pressure control equipment used in the oil and gas drilling industry, focusing on deep and ultra-deepwater applications. Its product lines include the Blowout Preventer (BOP) system, spare parts, repairs, and field services.
2011
In 2011 GE completed the acquisition of John Wood Group PLC's Well Support Division, allowing it to expand into drilling and manufacturing surface and service portfolios. Its products include electric submersible pumps (ESP), wellhead surfaces, trees and logging services.
Also in 2011, GE acquired Wellstream PLC., A British company that designs and manufactures flexible add-and-flow products for oil and gas transportation in the underwater production industry.
In 2011, GE also acquired Dresser Inc., which provides compression, flow technology, measurement and distribution of infrastructure and services. Its portfolio includes valves, actuators, meters, switches, regulators, piping products and natural gas-fueled engines for compression.
2012
In 2012, GE acquired PRESENS, a Norwegian company that develops and supplies solutions of pressure sensors, temperature and flow measurements. These products are in the company's Digital Solutions business.
Also In 2012, GE acquired Naxys, a provider of underwater leak detection and condition monitoring sensors based on passive acoustic technology. These products enable operators to monitor the integrity of their underwater installations, and become part of the company's Digital Solutions business.
2013
In 2013 GE Oil & amp; Gas completes the $ 3.3 billion acquisition of Lufkin Industries Inc., a manufacturing company that produces artificial lifting technology that helps bring oil and gas to the surface, such as oilfield pumping units and electric transmission equipment boxes.
In 2013 GE Oil & amp; Gas also acquired Salof Company, which designs and manufactures small-scale liquefied natural gas (LNG) technology.
Also in 2013, GE Oil & amp; Gas acquired Allen Gearing Solutions, designer, manufacturer and provider of personal rental services for industrial and marine applications. The company produces high-power gearing solutions, specializing in epicyclic gears that typically have higher power density than parallel shaft gear systems.
2014
In 2014 GE completed the acquisition of the Cameron Reciprocating Compression Division in 2014 for $ 550 million. This division provides reciprocal compression equipment and parts and after-sales service for oil and gas production, gas processing, gas distribution and independent power industry.
2015
In 2015, GE Oil & amp; Gas announced that it has agreed to acquire Advantec, an underwater intervention equipment provider, as part of its corporate strategy to expand its position as a solution provider of subsea production equipment and services.
2016/2017
At the end of October 2016, it was announced that General Electric is in negotiations for a deal worth about $ 30 billion to incorporate GE Oil & Gas with Baker Hughes. The transaction will create a publicly traded entity controlled by GE. It was announced that GE Oil & amp; Gas will sell its water treatment business as part of a divestment agreement with Baker Hughes. The agreement was removed by the European Union in May 2017, and by DOJ in June 2017. The merger agreement was approved by shareholders at the end of June 2017. On July 3, 2017, the transaction was completed and Baker Hughes became the GE company..
Maps GE Oil and Gas
Subsidiary Status
In 2012 GE Oil & amp; Gas becomes a subsidiary of General Electric. This is one of three new GE businesses created by GE Energy splits.
In 2017 GE Oil & amp; Gas combined with Baker Hughes to become Baker Hughes a GE company.
Organizational Structure
As reported on the General Electric website, GE Oil & amp; Gas organizes itself in five core business units.
Turbomachinery & amp; Process Solutions (TPS)
GE combines two previous businesses; DTS and TMS.
Turbomachinery Systems (TMS): Provides related equipment and services for mechanical drive, compression and power generation applications throughout the oil and gas industry. This product portfolio includes drivers (aero-derivative gas turbines, heavy-duty gas turbines and synchronous and induced electric motors), compressors (centrifugal and axial, high speed direct drives, subsea compressors, and turbo compressors) and turnkey solutions (industrial modules and waste heat recovery).
Downstream Technology Solutions (DTS): Provides products and services to serve downstream industry segments including refining, petrochemical, distributed gas, flow and process control and other industrial applications. Products include steam turbines, reciprocating and centrifugal compressors, pumps, valves and compressed natural gas (CNG) and small scale liquefied natural gas (LNG) solutions used primarily for the development of oil fields and shale gas.
Oilfield Equipment (formerly) Underwater & amp; Drilling (SS & amp; D)
Provides the broad portfolio of subsea products and services needed to facilitate safe and reliable hydrocarbon flow from subsea wells to the surface. Products in this segment also include offshore and offshore drilling and production systems for floating production platforms. GE also provides a range of services related to onshore and offshore drilling activities.
Oilfield Services (formerly Baker Hughes) Surface
Provide products and services for oil and gas wells on land and produce artificial lifts for extracting crude oil and other liquids from wells. Products include downhole tools for good integrity, dry tees and surface wellheads, electric submersible pumps, wireline logging, artificial lift technology and drilling pressure control equipment.
Digital
Provides Predix software development.
Digital Solutions (DS)
In January 2016 GE Oil & amp; Gas announces the manufacture of Oil & amp; new; Business Digital Gas Solutions. This business unit will focus on developing digital capabilities supported by GE Predix cloud platform. This is in addition to products previously included in 'Measurement & amp; Control 'business unit, which provides sensor-based measurement, non-destructive testing and inspection, factory control, condition monitoring and pipeline integrity solutions.
Partnership
The Digital Business Solutions also announced a partnership with Mariposa Energy and BP to develop and test new digital solutions for Asset Performance Management in offshore BP operations.
The business also partnered with Paradigm, an independent software developer for the oil and gas industry, to produce a reservoir based production optimization (RDPO) to optimize field-level production.
Technology Solution Center (TSC)
GE Oil & amp; Gas is one of the GE businesses featured in the GE network of fifteen Technology Solutions Centers (TSC), located in major technology centers around the world. The purpose of these centers is to encourage collaboration and enable customers to better understand how GE products and services fit into their projects. They feature a combination of interactive video content, scale models and live demonstrations.
Global Research Center
In 2013, GE announced that it has selected a site in the Oklahoma City Center for a Global Research Center dedicated to oil and gas technology. The center will focus on the acceleration of advanced oil and gas technology developed in GE's Global Research laboratory, including production systems, well construction, water use optimization, CO2 solutions and energy systems. Center opened in October 2016.
Important projects and collaborations
Ichthys LNG Project
In January 2012, GE Oil & amp; Gas announced they have won contracts worth more than US $ 1 billion to supply equipment and services for the Ichthys LNG project in Australia. GE will provide rotating equipment, including gas turbines and compressors, and storage and storage of associated floating production and central processing facilities. GE will also supply underwater production systems for the offshore portion of the project as well as the subsea connector for the 552-mile pipeline.
GLS Holding S.A.
In January 2013 GE Oil & amp; Gas and Angola Group GLS Holding S.A. announced the formation of a new joint venture, GE-GLS Oil & Gas Angola Limited, to further support the growth of the Angola oil and gas sector. The agreement includes an initial investment of US $ 175 million to build a new manufacturing facility in Soyo that will supply underwater equipment to the oil and gas industry in Angola.
Statoil
In January 2015, GE Oil & amp; Gas and Statoil announced a strategic collaboration to promote more eco-friendly and economically sustainable technologies for oil and gas production. This collaboration is focused on technological innovations that will enable the oil and gas industry to reduce emissions and impacts of local communities while increasing productivity.
This collaboration has included two Open Innovation Challenges that invite businesses, institutions and individuals to develop potential solutions to make energy production more sustainable. The first Open Innovation Challenge was issued in January 2015 and requires migrants to find ways to reduce the amount of sand needed in oil wells. More than 100 submissions are received from applicants in more than 30 countries. Technical and management experts from Statoil and GE Oil & amp; Gas served as a judge. The winners were announced in July 2015 and were awarded an initial cash prize of US $ 25,000, with the potential to receive additional funding from a set of $ 375,000 preferred prizes for potential development or commercialization after meeting certain additional requirements.
The second Open Innovation Challenge was issued in July 2015 and asked migrants to find solutions to reduce water use and improve water treatment in the development of non-conventional oil and gas reservoirs on land. The winners were announced in February 2016 and received the same prize.
In February 2016 GE Oil & amp; Gas signed a Main Service Agreement with Statoil for a new subsea project that will allow GE to continue supporting Statoil in a low oil price environment. The global agreement forms the basis for potential new contracts for subsea equipment and services on new projects and field development and applies globally to 2025.
PT Donggi Senoro LNG
In November 2015 GE Oil & amp; Gas announced they had signed a Service Contract Agreement with Asian energy company PT Donggi Senoro LNG. This Agreement will see GE Oil & amp; Gas provides a complete package service and monitors non-GE equipment provided by other Original Equipment Manufacturers (OEMs). Long-term deal is a milestone for GE Oil & amp; Gas because they will act as a single contract supplier.
References
External links
- Official website
- Ge Speedtronic modles
Source of the article : Wikipedia
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