GE, Devon Sign Technology Collaboration Agreement
General Electric Oil & Gas and Devon Energy have signed a technology collaboration agreement to research and improve unconventional oil and natural gas technologies.
Under the agreement, GE will collaborate with Devon on advancing innovations in three specific technology areas including:
- Artificial lift systems used for increasing the flow of liquids from production wells.
- Advanced drilling technologies to improve performance, reduce costs and reduce environmental impact.
- Water treatment and processing to reduce water use and better utilize water resources for unconventional oil and natural gas development.
Lorenzo Simonelli, president and CEO of GE Oil & Gas, says the company aims to improve the economics and operational performance of unconventional oil and gas projects and will work with Devon using the GE Oil & Gas Technology Center to develop ideas that can be quickly tested in the field.
GE says the agreement with Devon is closely aligned with GE’s new technology center, which will focus on developing and applying technologies and processes that are better, smarter, cleaner, safer, faster and more efficient in the areas of production systems, well construction, water use optimization, CO2 solutions and energy systems.
GE’s Oil & Gas Technology Center in Oklahoma is due to open in the third quarter of 2015.
Last week GE announced that Total E&P Italia’s crude oil production site in Italy will use GE’s advanced evaporator and zero liquid discharge (ZLD) technology to recycle up to 98 percent of produced water.
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