GE and Statoil develop sustainable energy solutions for oil & gas sector
This joint technology-focused program is aimed at driving an industrial response to some of the biggest challenges facing global oil and gas production, including flaring, CO2 and methane emissions, and water usage, while also optimizing business operations. “In order to respond to the growing energy demands of the world, continued investments in technology and innovation are critical to helping develop long-term, low-cost and more efficient energy solutions,” said Jeff Immelt, chairman and CEO of GE.
The program will focus on developing new approaches to build efficient, low-cost technologies for oil and shale gas production while simultaneously reducing emissions. In its initial stage, the collaboration builds on a foundation of concrete projects already initiated that address key sustainability dimensions of the industry, including the application of the CNG In A Box™ system to reduce flaring and lower CO2 intensity.
This implementation will be part of the innovative Last Mile Fueling solution: providing a full-service natural gas fueling solution for operations by capturing, compressing, and using natural gas that would otherwise be flared at well sites. CNG can be used to fuel rigs, vehicles and equipment, thereby reducing or replacing the need for diesel.
“The private sector has a responsibility to leverage its skills and expertise to contribute to the development of new solutions. Collaboration is a key component to achieving important positive change. This initiative with GE is a good example of an innovative approach to accelerate innovation and help address the energy needs of today and for the future,” added Eldar Sætre, president and CEO of Statoil.