US-based National Oilwell Varco (NOV) and the UK’s GE Oil & Gas have signed an agreement to deliver integrated solutions for floating production storage and offloading (FPSO) vessels.
The agreement will combine product offerings and engineering capabilities of the companies and optimises engineering design and supply comprehensive topside solutions for FPSO projects.
NOV has also installed and commissioned equipment on various vessels in shipyards for the oil and gas drilling industry. The company engineers and manufactures advanced fluids pumping, treatment and processing systems.
GE Oil & Gas manufactures technology solutions for power generation and gas compression projects.
The company also 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.
NOV chairman, president and CEO Clay Williams said: "We can materially improve deepwater production economics by industrialising the supply chain and standardising complex interfaces between our complementary topside equipment.
"For the past year, we have quietly 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."
The combined platform is set to offer topside systems with repeatable deliveries, scale economies and standardised interfaces that are expected to reduce risk of construction delays for offshore oil and gas customers.
The platform will also incorporate digital solutions, which provide predictive analytics through the life of the vessels and enable FPSOs to adapt to a range of operating parameters.
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."
Image: The agreement between GE and NOV optimises engineering design and supply comprehensive topside solutions for FPSO projects. Photo: courtesy of General Electric.