• GE’s Marine Asset Performance Management Solution is Aimed at Delivering Noble Significant Opex Reductions across the Target Rigs
• The Long-Term Partnership Will Initially Target Four Rigs for a Period of Five Years
• This Innovative Shift to ‘Data-Driven Drilling’ Will Have a Transformative Impact on the Entire Drilling Ecosystem
GE (NYSE: GE) and Noble Corporation plc (NYSE: NE) jointly announced a partnership to collaborate on the Digital Rigsm solution, enabling data-driven operational efficiency by using data analytics, with the target of a 20 percent reduction in operational expenditure across the rigs.
Within the agreement, GE will initially deploy its latest marine Asset Performance Management (APM) system, powered by Predix*, on four of Noble’s drilling rigs. The partnership will allow data-driven operations intelligence to provide broad-ranging benefits for the selected assets on the program’s rigs:
• Enhanced drilling process efficiency—Foresight visibility of equipment anomalies and drilling process deviations to reduce operational disruptions and enhance performance consistency.
• Shift to predictive maintenance—Redefine maintenance strategies with a focus on predictive maintenance to achieve long-term, sustainable opex reductions across the fleet.
• Reduction of third-party service costs—Anytime, anywhere rig visibility and insights that leverage the one-to-many impact of shore-based experts to reduce third-party service costs.
“With shifting market dynamics, the offshore industry is on the cusp of change. Drilling contractors must seize the moment to enhance their competitive edge,” said David W. Williams, chairman, president and chief executive officer of Noble Corporation plc. “We believe the shift to data-driven decisions will have a significant effect on drilling efficiencies. It is imperative for our industry to embrace the digital revolution to stay efficient and nimble, and Noble is leading the way. We look forward to developing our Digital Rig solution with GE.”
“Sluggish oil price, market volatility and geopolitical complexity are shaking the offshore landscape. The industry is challenged with the increased pressure of cost reduction and need for productivity gains. The impending retirement of many experienced workers widens skills gaps and leads to further industry-wide uncertainties,” said Francesco Falco, chief commercial officer, GE Energy Connections’ Power Conversion. “GE’s innovative digital APM solution unlocks reductions in operational expenditure and enhances competitiveness even in the current down market environment.”
GE’s marine APM solution combines “digital twin” data models and advanced analytics to detect off-standard behavior—often a sign of potential failure or performance degradation—of target assets on the rigs. This can sometimes be detected weeks ahead and provides an early warning foresight to operators to mitigate a problem before it strikes.
As the system continues to learn, this ability to predict the future condition of rig-wide assets will also enable a shift from planned to predictive maintenance. Empowered by modern software-based analysis, maintenance is exercised only when there is evidence of need. Compared to planned maintenance, it avoids unnecessary maintenance as well as mitigates the risk of maintenance-induced problems, reducing unplanned downtime and creating significant cost savings. The partnership is targeting to deliver up to a 20 percent reduction in maintenance costs.
In addition, the ability to provide actual rig asset data to onshore experts globally provides unparalleled insights into asset health, allowing experts to remotely diagnose problems and advise on next steps from a central location, potentially reducing third-party service costs. It also helps optimize the offshore maintenance team’s manpower and structure, as engineers will be able to focus on the drilling activity, not fault finding unnecessary problems.
“It is time for the industry to rethink the drilling ecosystem. Offshore companies must adapt to industry disruptions by leveraging digital solutions to counteract the current downswing and for readiness to scale during a market upswing,” said Tim Schweikert, president & CEO, GE’s Marine Solutions. “Industry-wide collaboration underpins a solid digital future. Together, we are stronger and will get there faster. It is a privilege to partner with Noble, and we are looking forward to delivering the results enabled by the digital age.”
The products and services herein described in this press release are not endorsed by The Maritime Executive.