GE Oil & Gas IAM2012, $1 billion in orders

GE Oil & Gas announced today in Florence, Italy, new projects worldwide totaling 1.3 billion dollars in equipment and service contracts during IAM 2012 (International annual meeting) at the Fortezza da Basso.

Among the new projects announced: under contracts totaling nearly $1 billion, GE will supply a wide range of equipment and services for the Ichthys LNG project in Western Australia, being developed by INPEX Corporation and Total; GE subsea production equipment, control systems and services have been selected for the Nexen Golden Eagle Area Development project in the United Kingdom’s central North Sea; GE Oil & Gas will supply associated gas utilization technology for TNK-BP’s Verkhnechonsk oil and gas field in Eastern Siberia. The project calls for gas re-injection into an underground storage area for further reuse, rather than flaring, or wasting, that gas; GE has been selected to provide key equipment for a floating oil production, storage and offloading platform being built to develop the Guará Norte section of the Tupi oilfield in Brazil’s Santos oil basin.

Additional announcements are included in another articole in the Florence Daily News headline. “After more than a decade, the GE Oil & Gas Annual Meeting has become an industry tradition. It provides an opportunity to see how far technology has advanced in the past 12 months and to discuss where it can go in the future,” said Dan Heintzelman, CEO of GE Oil & Gas.

This year’s meeting theme, Leading Progress Together, reflects GE’s recognition that tackling the complex challenges facing the oil and gas industry requires leadership and increased teamwork. The meeting will focus on the collaborative effort that goes into every step forward. With an outstanding roster of speakers, panelists and technical presenters, this promises to be an exciting and thought-provoking event.”

During the annual meeting, panel discussions will cover such topics as working together to develop solutions for unconventional energy production, the value of partnerships, and the future of the global energy industry.

In addition, global experts from across the oil and gas industry will lead technology forums that will address a wide range of topics including subsea exploration and production, enhanced oil recovery, LNG production, pipeline inspection techniques and technical advances in gas turbines and compressors.

“The competitive and environmental challenges of today’s oil and gas industry are driving the need for increased efficiency, reliability and environmental protection. How technology innovation can help our customers achieve those objectives will be a common theme winding through all of the presentations,” noted Heintzelman.

Along with the technology and general discussion sessions, the annual meeting also offers customers the choice of touring one of two GE facilities: the Florence plant, where compressors, steam and gas turbines and turboexpanders are manufactured and tested; and the Massa plant, which houses heavy wall reactors, large compressor machining and assembly, turbocompressor packaging and full load string testing.

In addition to GE, representatives from many of the world’s leading oil and gas companies will participate in the two-day event. Last year’s meeting drew 850 representatives from more than 70 countries and 200 companies, including leading experts and key decision makers across the industry.