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TheStreet Open House

GE Oil & Gas Wins Two “Spotlight On New Technology” Awards At OTC 2014

Each year, the Offshore Technology Conference (OTC), taking place May 5-8 in Houston, recognizes innovative technologies that have industry-changing potential in the energy sector. The “Spotlight on New Technology Awards” showcase the latest and most advanced hardware and software solutions that are advancing the offshore exploration and production industry to new levels of safety, productivity and efficiency.

GE Oil & Gas (NYSE:GE) has been honored with two 2014 Spotlight on New Technology Awards for its innovative SeaLytics™ BOP (Blowout Preventer) Advisor and GFI™ Ground Fault Immune Electric Submersible Pump (ESP) Monitoring System products. In keeping with the criteria for winning technologies, GE’s technologies offer broad appeal for the industry, provide significant benefits beyond existing technologies and have been proven through full-scale application or successful prototype testing. GE is one of two companies to receive multiple 2014 Spotlight awards.

SeaLytics BOP Advisor

Technology: GE’s SeaLytics BOP Advisor monitoring and predictive maintenance solution enables drilling contractors to monitor the performance of BOPs and plan their maintenance by using predictive analytics based on actual component performance data.

Customer Benefit: When a BOP is offline for unplanned service, the cost to the drilling contractor can be significant, both in terms of idled crews and missed opportunities. A lengthy downtime event can ripple through a rig’s drilling schedule well beyond the initial system outage. GE’s SeaLytics BOP Advisor is designed to improve BOP system uptime and reduce unnecessary maintenance, which leads to better cost forecasting, all of which provide significant performance benefits to the user.

SeaLytics BOP Advisor enables jackup and drillship contractors to move from a “when it breaks, fix it” approach to a predictive maintenance planning mode. The technology communicates beyond the drilling operator’s cockpit, or “doghouse,” letting the rig share its status with operations leaders located onshore or with drilling teams on other vessels. Because SeaLytics BOP Advisor can identify components that may need service in advance, the contractor can service equipment when scheduling opportunities arise.

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