GE Oil & Gas has signed a Long Term Service Agreement with Chevron Australia to provide subsea services for the Company’s operated natural gas assets located off the northwest coast of Western Australia.

GE will supply a range of services including project management, inventory storage, preventative maintenance and obsolescence management. Additional services on demand will include engineering analysis, field services, rental tooling, corrective maintenance, wellheads, spare equipment and training, the company informed.

Lorenzo Simonelli, President & CEO, GE Oil & Gas, said: “Given the current strong headwinds facing the industry, the sector, and the world, is crying out for innovative solutions to extracting, transporting and processing oil and gas. The needs are multiple and competing: faster, cheaper, local, predictable, more efficient, less resource intensive. Most oil and gas sector companies are looking for fresh ways to tackle these challenges, and many are turning to technology.”

Mary Hackett, Regional Director, GE Oil & Gas, said: “We are proud to expand our relationship with Chevron, and to provide Industrial Internet services that will support operational efficiency and productivity. Lower commodity prices and continued market volatility present an opportunity for businesses to invest in technology to help them get the most out of their assets. We are seeing this trend play out across the sector.”