Multinational conglomerate corporation GE will invest US$100mn in new manufacturing and software analytics programme for the oil and gas industry in Saudi Arabia
According to GE, the focus of the software analytics programme will be on developing new and enhanced technologies in the upstream and downstream sectors with the goal of increasing efficiency and production.
“This will include new software solutions as well as the next generation of downhole technology and electric submersible pump (ESP), which has the potential to be a game changer for the industry both in Saudi Arabia and across the world,” added the company.
GE will also collaborate with King Abdullah University of Science and Technology (KAUST) on material testing and combustion research. The outcomes will support the development of GE’s HA gas turbines, which will be manufactured late 2016.
Jeffrey Immelt, CEO of GE, said, “We are proud to work with our partner to co-create solutions that will find application both in Saudi Arabia and globally. We believe that future skill sets demand strong capability in both software and hardware and we are committed to delivering that to our Saudi Arabian workforce and to our ecosystem of partners such as Saudi Aramco and Saudi Electricity Company.”
In addition, the software analytics programme will also aim to advance corrosion monitoring and resistance technologies to better withstand high sour gas environments prevalent in Saudi Arabia’s oil and gas fields, noted Immelt.
To register for Big Data Analytics for Oil & Gas, please visit: http://www.oilandgasbigdata.com/register
