GE Oil & Gas and energy exploration and production company Devon Energy signed a new technology collaboration agreement (TCA) to drive innovations that will enhance the performance and economics of unconventional oil and natural gas projects as the demand for energy grows worldwide. The new agreement was announced at the groundbreaking ceremony for GE’s new Oil & Gas Technology Center in Oklahoma City.
GE’s new technology center will focus on accelerating mid- to later-stage oil and natural gas technologies developed in GE’s Global Research Center labs. Under the agreement, GE will collaborate with Devon on advancing innovations in three specific technology areas including:
Artificial lift systems used for increasing the flow of liquids from production wells.
Advanced drilling technologies to improve performance, reduce costs and reduce environmental impact.
Water treatment and processing to reduce water use and better utilize water resources for unconventional oil and natural gas development.
The TCA with Devon is closely aligned with GE’s new technology center, which will focus on developing and applying technologies and processes that are better, smarter, cleaner, safer, faster and more efficient in the areas of production systems, well construction, water use optimization, CO2 solutions and energy systems.
GE has supplied equipment to Devon for many years, providing wellhead and production control as well as artificial lift systems, and the companies have previously collaborated on industry challenges such as remote field power.
GE’s new Oil & Gas Technology Center in Oklahoma is due to open in the third quarter of 2015.