GE Oil & Gas has signed an agreement with US-based National Oilwell Varco (NOV) to deliver integrated solutions for floating production storage and offloading (FPSO) vessels.
As per the deal, the two companies will combine their product offerings and engineering capabilities in order to optimize engineering design and supply comprehensive topside solutions for FPSO projects.
Earlier, NOV has installed and commissioned equipment on various vessels in shipyards for the oil and gas drilling industry.
The company is engaged in engineering and manufacturing advanced fluids pumping, treatment and processing systems.
GE Oil & Gas manufactures technology solutions for power generation and gas compression projects as well as provides solutions such as subsea trees, manifold and connection systems, as well as power and processing technology.
Under the partnership, GE Oil & Gas may also involve its other businesses with NOV.
GE Oil & Gas president and CEO Lorenzo Simonelli said: "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.
"Digital solutions will add even more value to the agreement. Digitization has become not only a competitive differentiator but increasingly, a necessity to help our customers make their businesses stronger long-term."
GE said that the combined platform is expected to offer topside systems with repeatable deliveries, scale economies and standardized interfaces to reduce construction delay risks for offshore oil and gas customers.
NOV chairman, president and CEO Clay Williams said: "We can materially improve deepwater production economics by industrializing the supply chain and standardizing complex interfaces between our complementary topside equipment."
The platform will also feature digital solutions to provide predictive analytics through the life of the vessels and enable FPSOs to adapt to a range of operating parameters.
Upon completion of joint engineering efforts, the partners plan to offer topside package solutions starting by early 2017 to the oil and gas industry.
Image: GE and National Oilwell Varco intend to jointly supply comprehensive topside solutions for floating production storage and offloading projects. Photo: courtesy of General Electric.