Civilization requires energy
By 2020, requirements for new production capacity will increase to 80 MMboe/day and, at the same time, existing production will decline at an annual rate of an estimated 6%. So for our industry, the stakes couldn’t be higher.
And our customers are rightly demanding greater and greater capital efficiency – not only sensible costs today, also productivity across an entire lifecycle.
What does that mean for providers? It means combining speed and agility, with vision and endurance. It means delivering products today, while ensuring capacity tomorrow. It is at once a sprint and a marathon. At GE, our mission is to help fuel this future by understanding your businesses, anticipating your needs and improving your outcomes.
GE MODEL POWERS INNOVATION
As the marketplace changes, it is also a new era for GE Oil & Gas. Starting with our first acquisition just 20 years ago, we have built a $17 billion portfolio with 45,000 employees and 7,000 engineers, spanning the entire oil and gas space – from extraction, to transportation, to end use. We are one of GE’s fastest-growing businesses.
Yet we believe our competitive advantage comes from something more. It comes from being a fully integrated part of the entire GE family, able to leverage the expertise of one of the world’s most diverse corporations.
To our 7,000 engineers at Oil & Gas, add the computational and creative talents of 50,000 more.
To our own product innovations, add turbine technology from GE Aviation, diagnostic imaging technology from GE Healthcare, water injection technology from GE Power & Water.
To our own analytical and communication resources, add GE’s Software Center, where the industrial internet empowers our customers to monitor equipment and optimize performance.
And to our own management skills, add the proven best practices and rapid cycle times of GE’s FastWorks.
It all translates into a company that can evolve with our customers and meet increasingly complex demands at a lower cost. In partnership with our customers, we can help address the many new challenges that the industry is facing with innovative, economic solutions.
It’s also about re-imagining the basics. For hundreds of years, blacksmiths to aerospace engineers have tried to compensate for thermal distortions in metal. Now at GE, we are pioneering whole-new metal coating methods, from catalytic processes, to self-coating fluids, to cold sprays – all to drive up quality and drive down cycle time.
Advanced Manufacturing: Drawing on the unmatched R&D ability of our seven Global Research Centers, we are thinking about manufacturing challenges in a whole new way. Every aspect of the manufacturing process can be simulated virtually, letting industrial designers set their imaginations free. Then, with new added tools like 3D printing, we can move from conception to prototype to production more quickly than ever before. It’s liberating, and it offers us the ability to provide customers with faster, more efficient solutions.
And beyond the hardware is our investment in the industrial internet, which underpins our technology and service strategy. More data means more control, which means less unplanned downtime.
That’s how our new Predictivity suite of technologies will improve customer outcomes, with software applications to manage networked fields in artificial lift, provide “intelligent pipeline” analytics, regulate BOP systems and turbines, and monitor field machinery, plants, enterprise fleets, and underwater remote systems.
But if GE’s technological capabilities are complex, and if the resources we apply to challenges are global, when it comes to our organizational culture and structure, we are aimed at something different: simplicity and localization.
Why are those values important? Let’s use an analogy. Think of an ATM machine. It may be a very complex device, linked to an even more complex network of financial institutions – it has to be in order to work. But what counts to a bank customer who needs cash in a hurry is that their ATM is nearby and can work with the push of a button. Simplicity. Localization. It’s what our customers expect and deserve.
That’s why we are simplifying the “front end” of our business, so that there is one GE face for our customers. That’s why we are pulling together cross-business solutions internally, so that our customers can benefit from one-stop-shopping. That’s why it’s a priority for us to be physically present where our customers need us, especially at the most difficult and remote sites. That’s why we are empowering our local teams to make decisions …
. . . And that’s why we are so invested in cultivating local leadership that can take the best ideas and put them to work in the real world. Our 45000 employees are close to you, in over 100 countries, to help develop our industry partnerships. And we mean deep partnerships that enrich human capital, build vital infrastructure, and shape healthy economies and societies for the long-term.
History rarely moves in a straight line and has a way of defying predictions. Today’s wisdom becomes tomorrow’s folly and vice versa. But of this we can be sure: innovation and leadership will never go out of style, especially in an industry as vital as ours.
Whether we are partners or competitors, national or independent, purchasers or providers, global or local, we are all of us engaged in a common purpose: to bring energy to the world.
GE is ready to rise to this challenge and is committed to work on the things that matter in the oil and gas industry…And, in collaboration with our customers and partners, push the boundaries of technology to help fuel the future.