The new, combined platform will provide topside systems with repeatable deliveries, scale economies and standardized interfaces, and incorporate digital solutions.
The agreement brings together the complementary products and engineering capabilities of NOV and GE Oil & Gas.
NOV engineers and manufactures advanced fluids pumping, treatment and processing systems; composite piping systems; cranes and deck machinery; and turret mooring systems for FPSOs and related vessels, while GE Oil & Gas engineers and manufactures advanced technology solutions for some of the world’s most complex power generation and gas compression projects. GE Oil & Gas’s Subsea Production Systems business includes subsea trees, manifold and connection systems, and power and processing technology.
GE Oil & Gas may also involve other GE businesses in the collaboration with NOV.
NOV and GE Oil & Gas expect to complete joint engineering efforts and to start offering topside package solutions to the oil and gas industry by early 2017.
“We can materially improve deepwater production economics by industrializing the supply chain and standardizing complex interfaces between our complementary topside equipment,” said Clay Williams, NOV’s chairman, president and CEO. “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.”
“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 Lorenzo Simonelli, president and CEO of GE Oil & Gas. “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.”
NOV and GE Oil & Gas remain independent suppliers of equipment, services and systems.