GE And Statoil Launch Ambitious New Collaboration To Accelerate Development Of Sustainable Energy Solutions

- Joint technology-focused program to pursue industrial solutions designed to reduce environmental impact of oil and gas production

- Companies launch an Open Innovation Challenge seeking solutions which can improve the use of sand in onshore operations

FAIRFIELD, Connecticut and STAVANGER, Norway, Jan. 28, 2015 /PRNewswire/ -- GE and Statoil announced a new collaboration to accelerate the development of more environmentally and economically sustainable energy solutions to help fuel the future. This joint technology-focused program is aimed at driving an industrial response to some of the biggest challenges facing global oil and gas production, including flaring, CO₂ and methane emissions, and water usage, while also optimizing business operations.

"In order to respond to the growing energy demands of the world, continued investments in technology and innovation are critical to helping develop long-term, low-cost and more efficient energy solutions," said Jeff Immelt, Chairman and CEO of GE. "The collaboration we are announcing today with Statoil brings together two leading technology players, and allows us to leverage our global network of engineers and technologists to make a profound impact on the development of energy solutions that reduce environmental impacts. Through this collaboration, we hope to be a model for the rest of our industry, and to inspire thinking, creativity and innovation in addressing the challenges of more sustainable energy."

"The challenge of achieving more efficient and sustainable energy production is too large for one entity to address alone," said Eldar Saetre, President and CEO of Statoil. "The private sector has a responsibility to leverage its skills and expertise to contribute to the development of new solutions. Collaboration is a key component to achieving important positive change. This initiative with GE is a good example of an innovative approach to accelerate innovation and help address the energy needs of today and for the future."

Driving Efficiency through Innovation

The program will focus on developing new approaches to create efficient, low-cost technologies for oil and shale gas production while simultaneously reducing emissions. In its initial stage, the collaboration builds on a foundation of concrete projects already initiated that address key sustainability dimensions of the industry, including:

• Reduce flaring and lower CO₂ intensity through innovative application of CNG In A Box™ as part of the innovative Last Mile Fueling solution: Provide a full-service natural gas fueling solution for operations by capturing, compressing, and using natural gas that would be otherwise flared at well sites. Compressed natural gas (CNG) can be used to fuel rigs, vehicles, and other equipment, thereby reducing the use of or replacing the need for diesel.
• Reduce water usage through CO₂ Stimulation: Use liquefied CO₂ stimulation to both reduce water usage in fracturing operations and increase oil and gas production.
• Increase fuel efficiency through Gas Compressor Optimization: Increase performance, efficiency, and extend maintenance intervals through optimization of gas compressor components.
• Increase fuel efficiency with Turbine Online Water Wash technology: Increase performance; reduce planned and unplanned turbine downtime by cleaning turbines during operation.

The collaboration, in later phases, will also pursue work on a range of solutions, from the rapid scale-up of technologies that help address the operational needs of the industry today to longer-term solutions that can support the industry as it matures to meet tomorrow's energy needs.