GE And Statoil Launch Ambitious New Collaboration To Accelerate Development Of Sustainable Energy Solutions - Seite 2

Initial estimates show that the successful execution of these first five projects could result in significant combined CO₂ savings. The Last Mile Fueling solution in the Williston Basin in North Dakota has the potential to reduce the equivalent of 120,000 – 200,000 tons per year of CO₂ emissions through reduced diesel fuel usage, while the other projects being developed hold potential for similar, or even larger, reductions. Additionally, the collaboration aims to reduce water usage as well as methane and NOX emissions, while at the same time increasing oil and gas production.

Calling All Innovators

In the spirit of this collaboration, GE and Statoil are also launching a global Open Innovation Challenge. Knowing that great ideas can be conceptualized outside of their own companies, the Challenge will invite innovators from around the world and beyond the oil and gas industry to develop potential solutions to make energy production more sustainable. The first phase of the Open Innovation Challenge specifically aims to address the use of sand in unconventional operations. Focusing on sand--which requires thousands of truck trips to transport this proppant onto the site when drilling new wells--has the potential to reduce the environmental impacts on local communities, lessen emissions and make energy production more efficient. GE Oil & Gas and Statoil will help fund the commercial development of winning approaches.

"While the actions directly involved with producing energy have an impact on more sustainable energy production, so too do indirect operations that surround production," said Lorenzo Simonelli, president and CEO of GE Oil & Gas. "At GE we know that some of the best ideas we have brought to life were initially conceptualized outside of our company. That's why we're launching the Open Innovation Challenge as part of this collaboration to solicit ideas for a most unique challenge in onshore operations. With the collaboration between GE and Statoil, we can bring scale and resources to ideas that target more sustainable energy solutions, and can help develop and implement these technologies in a way that benefits us all."

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Oil & Gas

GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future. Follow GE Oil & Gas on Twitter @GE_OilandGas.

About Statoil

Statoil is an international energy company with operations in 34 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil's headquarter is in Stavanger, Norway with approximately 23,000 employees worldwide, and the company is listed on the New York and Oslo stock exchanges.