Industry is embracing new ways of working, says BHGE Chairman and CEO
FLORENCE: At its Annual Meeting in Florence, Italy, which brings together more than 1,000 senior oil and gas leaders and government leaders for a two-day event, Baker Hughes, a GE company announced a series of new, innovative contracts and partnerships.
As the world’s first and only technology and services company with fullstream capabilities and a holistic view of the oil and gas industry, BHGE’s integrated suite of products, technologies and digital solutions continues to help customers break down siloes and achieve radical improvements in efficiency, productivity, performance and project economics.
“As an industry, we have had to learn some hard lessons and acknowledge the need to embrace new ways of working to reach the levels of optimization, efficiency and productivity required to grow,” said Lorenzo Simonelli, Chairman and CEO of BHGE. “The future of competitiveness in energy will be defined by radical improvements in project economics, significant shifts in the way we do business and the ability to balance energy demand and environmental responsibilities. Our industry will face challenges as it navigates continued market volatility, evolving policy priorities and cost pressure but we cannot forget our focus on productivity or allow old habits to return.
“These deals and partnerships show the value of BHGE’s diversified portfolio, which allows us to partner with our customers and develop innovative solutions across the value chain. Our fullstream and integrated offerings are what differentiate us to compete in every segment and sector – upstream, midstream and downstream, brownfield and greenfield, onshore and offshore.”
Modern, digital technologies are changing the way BHGE works with its customers and the outcomes it delivers. The company is helping to re-invent how work gets done and deliver radical efficiencies across the value chain, as demonstrated by a partnership with Shell.
BHGE has jointly developed JewelSuite, which is revolutionizing the way Shell executes field development planning by integrating data and workflows from seismic interpretation all the way through to geological modelling. This allows Shell to reduce uncertainties on well placement, reserves estimation, and production planning.
“Digital Technologies have been an important feature in our industry for years but now the pace of change is increasing dramatically. What used to take years or months to be developed and deployed, can now take only weeks,” said Harry Brekelmans, Director Shell Projects and Technology.
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