FAIRFIELD, Connecticut/ STAVANGER, Norway – GE and Statoil have announced a collaboration to accelerate the development of “more environmentally and economically sustainable energy solutions.”
This joint technology-focused program is aimed at driving an industrial response to some of the challenges facing global oil and gas production, including flaring, CO2 and methane emissions, and water usage, while also optimizing business operations.
Some specific targets include:
- Reduce flaring and lower CO2 intensity
- Reduce water usage through CO2 stimulation
- Increase fuel efficiency through gas compressor optimization and turbine online water wash technology.
GE and Statoil are also launching a global Open Innovation Challenge for anyone to develop potential solutions and make energy production more sustainable.