GE inks agreement with Transocean

HOUSTON, January 12, 2017 – GE Oil & Gas late on Wednesday announced the signing of a services agreement with Transocean that will see it secure monitoring and maintenance work for the next 10 to 12 years.

According to a GE press release, the agreement, which covers seven Transocean rigs, was signed at the end of last year and represents value of some USD 180 million. GE will work on service scheduling and parts forecasting, which marks a shift from calendar-based maintenance to a condition-based monitoring model.

“When cost and risk are at the top of operators’ minds, we share the responsibility by investing in equipment uptime and performance,” GE Oil & Gas President and CEO Lorenzo Simonelli said.

In December, Schlumberger subsidiary Cameron said it had been awarded two 10-year Transocean contracts for work in the Gulf of Mexico. The agreements, worth more than USD 350 million, will see Cameron execute equipment management services for Transocean.

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