GE and Statoil in oil and gas clean energy pact

GE has joined forces with oil major and Statoil to develop more environmentally and economically sustainable energy solutions.

And shale gas exploration and extraction is one of the key areas highlighted by the two companies.

GE and Statoil state that the joint technology project “is aimed at driving an industrial response to some of the biggest challenges facing global oil and gas production, including CO2 and methane emissions and water usage, while also optimizing business operations”.

The areas targeted for development include using liquefied CO2 stimulation to both reduce water usage in shale gas ‘fracking’ operations and increase oil and gas production; increase the performance, efficiency, and extend maintenance intervals of gas compressor components; and increase the fuel efficiency of turbines by cleaning them while in operation.

GE chief executive Jeff Immelt (pictured) said: “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.

“The collaboration with Statoil brings together two leading technology players, and allows us to leverage our global network of engineers and technologists to make a profound impact on the development of energy solutions that reduce environmental impacts.

“Through this collaboration, we hope to be a model for the rest of our industry, and to inspire thinking, creativity and innovation in addressing the challenges of more sustainable energy.”

“The challenge of achieving more efficient and sustainable energy production is too large for one entity to address alone,” said

Immelt’s counterpart at Statoil, Eldar Sætre, said that “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.”