National Oilwell Varco (NOV) and GE Oil & Gas have entered into an agreement to collaborate on the delivery of integrated solutions for floating production storage and offloading (FPSO) vessels
The agreement aims to bring together complementary product offerings and engineering capabilities from the two companies to optimise engineering design and supply comprehensive topside solutions for FPSO projects.
“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,” said GE Oil & Gas president and CEO Lorenzo Simonelli.
According to the statement released by the companies, the new platform will 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 deepwater oil and gas customers. Additionally, the new platform will incorporate digital solutions, which are expected to optimise performance and provide predictive analytics through the life of the vessels, enabling FPSOs to efficiently adapt to a wider array of operating parameters.
The industrialised manufacturing supply chain, combined with digital solutions and global service and aftermarket capabilities, is expected to maximise life-cycle efficiencies and drive down the cost of offshore oilfield development, the statement said.
“We can materially improve deepwater production economics by industrialising the supply chain and standardising complex interfaces between our complementary topside equipment,” said NOV Chairman, president and CEO Clay Williams. “For the past year we have 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 deepwater production development.”