National Oilwell Varco (NOV) and GE Oil & Gas have struck a deal to collaborate on digital solutions for Floating Production Storage and Offloading (FPSO) vessels.
The venture provides predictive analytics through the life of the vessels, enabling FPSOs “to efficiently adapt to a wider array of operating parameters”.
NOV chief executive Clay Williams said: “We can materially improve deepwater production economics by industrializing the supply chain and standardizing 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.”
Lorenzo Simonelli, chief executive of GE Oil & Gas, added: “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.”