Writing the next chapter in oil and gas

During today’s challenging oil market, customers are looking for immediate solutions to reduce costs and increase efficiencies. More than ever, investment in technology is absolutely critical to build a stronger oil and gas industry, committing to our customers and the growing need for energy.

Yesterday, I spent the day in Oklahoma City with employees and partners at the grand opening of the GE Global Research Oil & Gas Technology Center. The facility is part of GE’s global research network, which includes 10 centers with 50,000+ GE engineers who work across multiple industry sectors around the globe. 

We’re bringing together the full power of digital solutions and technology from across GE’s industrial businesses to advance the oil and gas industry. Designed to foster open innovation, the center is becoming a central hub for our scientists and engineers to closely collaborate with customers on cutting-edge digital and hardware solutions. Yesterday, I discussed the future of the industry with Chesapeake CEO Doug Lawler and BP Lower 48 CEO Dave Lawler.

Now more than ever, this is the time to think about optimization, maximizing efficiency, collecting data and learning from it. Digital has to play a role in equipment optimization, and it is truly transforming this industry. We’re using software to connect energy sites to Predix, GE’s cloud-based operating system for the Industrial Internet, and gather and analyze data to make them more efficient.

For example, our engineers are developing cloud-connected helicopter drones that can inspect rigs and pipelines from hundreds of miles away. GE partnered with Oklahoma State University’s Aerospace program to develop a prototype drone, called Raven. It can detect emissions precisely and cost-effectively to reduce environmental impact and improve operational efficiency.

We’re partnering closely with our customers to design the best solutions and know how they’ll operate in their fields. Our new technology center has two test wells that represent real world conditions and can test various technologies. Now as we work to develop even more advanced and efficient artificial lift systems, our center is equipped to simulate actual downhole conditions, meaning faster prototyping and iterating. The center also has a “flow loop” where technologists can simulate production environments to test newly designed parts.

Our partners are also benefitting from insights and invention beyond the oil and gas industry through the GE Store. By this I mean the transfer of technology, talent, expertise and connections through GE’s massive, diverse network.

It’s no secret the industry has been working through a tough market environment. But, it’s exactly times like these when investments in technology are most important. Through partnering closely with our customers, investing in the future and leveraging the GE Store, I believe we are truly writing the next chapter for the oil and gas industry. I’m excited to see what the future brings.