GE Oil & Gas unveils projects worth $1.3 billion at Florence meet

The annual GE Oil and Gas meeting held in Florence, Italy on January 30-31, 2012, had the theme, Leading Progress Together.  It was in recognition that the oil and gas landscape is characterized by growing complexity, requiring leadership and increased collaboration. Speakers, panelists and technical presenters came together to make this an exciting and thought provoking event.

Dan Heintzelman, the new President and CEO of GE Oil & Gas, introduced this year's theme and chose the show to announce new projects amounting to $1.3 billion in equipment and services contracts.

Gas utilization technology

GE Oil & Gas will supply gas utilization technology for TNK-BP's Verkhnechonsk oil and gas field in Eastern Siberia. This calls for gas re-injection into an underground storage area for further reuse, rather than flaring that gas. The company will provide a PGT25 gas turbine and three compressors, which will enable TNK-BP to increase oil gas utilization volume in line with the current legislation that stipulates a utilization level of at least 95%.

The compression train is scheduled to enter commercial service in the summer of 2013. Part of the associated gas from the crude oil separation process will be used within the facility as fuel gas, while the remainder will be re-injected into underground storage.

Heintzelman said, "The competitive and environmental challenges of today's oil and gas industry are driving the need for increased efficiency, reliability and environmental protection. How technology innovation can help our customers achieve those objectives is a common theme winding through all presentations."

See March/April issue of Turbomachinery International magazine for more.