Gulf Oil and Gas accountACCOUNT

GE & Transocean Sign Service Agreement for $180 Million

Source: www.gulfoilandgas.com 1/11/2017, Location: North America

Share |
GE Oil & Gas signs a new contractual service agreement (CSA), valued at approximately $180 million, with Transocean. The agreement, signed at the end of 2016, aims to further maximize productivity and lower operating costs for Transocean. As a pioneer of new business models and performance-based service agreements, 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.

“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,” said Lorenzo Simonelli, president and CEO, GE Oil & Gas. “When cost and risk are at the top of operators’ minds, we share the responsibility by investing in equipment uptime and performance.”

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.

“We are evolving our business and enhancing our digital offerings to match the needs of our customers,” Simonelli said. “Digitization truly is the single largest step change for the industry and the foundation for its future.”

Rigs >>

Rigs News in United States >>

Falkland Islands >>  2/5/2018 - Rockhopper Exploration plc (RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, is plea...
Norway >>  2/5/2018 - Fugro has won a long-term contract for the provision of rig positioning services to Statoil. The contract includes positioning of all the Statoil oper...

Cameroon >>  2/1/2018 - Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce a key milestone in the appraisal drilling campaign of...
Norway >>  2/1/2018 - The West Hercules semi-submersible rig has been contracted for drilling two exploration wells in the Barents Sea in 2018, and options to drill another...

Netherlands Antilles >>  1/26/2018 - Damen Maaskant Shipyards Stellendam has secured another contract to build a twin-rig fly shooting fishing trawler; this time for brothers Rense and Jo...
Colombia >>  1/21/2018 - PentaNova Energy is mobilising a drilling rig to further develop its natural gas resources in Colombia’s Maria Conchita gas field. The Maria Conchita ...

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 |

More News

 

Oil & Gas Companies in United States >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.