GE Oil and Gas
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| Subsidiary | |
| Industry | Oil and gas |
| Predecessor | GE Energy |
| Headquarters | London, United Kingdom |
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Key people
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Lorenzo Simonelli (CEO) |
| Revenue | US$16.5 billion (2015) |
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Number of employees
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39,000 (2015) |
| Parent | General Electric |
| Website | www |
GE Oil & Gas is a subsidiary of the American multinational conglomerate corporation General Electric. Headquartered in London, United Kingdom, the company supplies mission critical equipment for the global oil and gas industry, used in applications across all segments of the oil and gas value chain, including drilling, subsea and offshore, onshore, LNG, distributed gas, pipeline and storage, refinery and petrochemical.
GE Oil & Gas also designs and manufactures surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, high pressure reactors, industrial power generation and a broad portfolio of auxiliary equipment. At the 2014 Investor Meeting, it was reported that GE Oil & Gas operate 304 manufacturing and service shops in the world’s main oil and gas extraction and production regions, and provides upgrades to customers’ machines. GE Oil & Gas also provide pipeline integrity solutions, sensor-based measurement, inspection, and asset condition monitoring, controls and radiation measurement solutions.
In 2016, GE Oil & Gas employs approximately 37,000, serving customers in over 140 countries.
GE entered the oil and gas industry in 1994 with the acquisition of Italian company Nuovo Pignone, and has since gone on to expand its global presence in the industry. GE’s expansion in oil and gas was amplified as a result of the great recession of 2009. The recession significantly affected GE’s revenue and led to the company’s decision to divest itself of a number of financial service companies in order to ‘revisit its roots’ as an industrial company.
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Wikipedia