GE, Devon Energy Join Forces on Oil & Gas Technology
GE Oil & Gas announced a new technology collaboration agreement with Devon Energy to accelerate the development and testing of products in the field to enhance the performance and economics of unconventional oil and gas projects.
Under the alliance, GE will collaborate with Devon Energy on driving technology advancements for artificial lift systems used for increasing the flow of liquids from production wells, advanced drilling technologies and water treatment solutions.
The announcement took place at a groundbreaking ceremony for GE’s new Global Research Center (GRC) in Oklahoma City, a hub for global oil & gas innovation and field testing of products to determine commercial viability. Scheduled to open next year, the Center is part of GE’s three-year effort to triple R&D investment in the oil and gas industry.
Focused on accelerating mid- to later-stage oil and gas technologies, the Oklahoma Center will capitalize on its close proximity to GE customers and to an important oil and gas producing region. The Center will focus on solutions related to production systems, well construction, water use optimization, CO2 solutions and energy systems, and will draw on the company’s cross-business expertise to drive breakthroughs in the oil & gas space.