Finance
GE, Transocean ink $180 mln. service agreement
- GE will provide condition-based monitoring and maintenance services to help boost production at Transocean's seven rigs

General Electric's subsidiary, GE Oil and Gas, signed a new $180 million service agreement with one of the world's biggest offshore drilling contractors, Transocean, with the aim of further maximizing productivity and lowering Transocean’s operating costs, the company announced late on Wednesday.

GE will provide condition-based monitoring and maintenance services for pressure control equipment on seven of Transocean’s rigs over the next 10 to 12 years, the statement read.

“This agreement builds on the new service model we introduced last year to address today’s industry shift toward maximizing productivity and lowering operating costs while also maintaining operating flexibility,” Lorenzo Simonelli, president and CEO, GE Oil & Gas, was quoted as saying in the statement.

The agreement leverages GE’s digital capabilities to shift from event and calendar-based maintenance to condition-based monitoring and maintenance.

"Working with GE on parts forecasting and service scheduling will allow Transocean to optimize operations by proactively planning and minimizing between-well maintenance," according to the statement.

Switzerland-based Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services.

By Ebru Sengul

Anadolu Agency

ebrusengul@aa.com.tr

 

 

12 Jan,2017
FINANCE NEWS