Statoil and GE partner to lower environmental impact of oil and gas production

Statoil and GE have formed a partnership to develop sustainable energy solutions to drive down costs and cut emissions and energy usage in the oil and gas industry.

The companies are collaborating in a joint technology programme, which aimed at tackling flaring, CO2 and methane emissions and water usage in industry operations.

Statoil and GE will initially focus on a foundation of concrete projects already started to address important sustainability dimensions of the industry.

In later phases, the companies will carry out work on a range of solutions, from the rapid scale-up of technologies that help address the operational needs of the industry.

GE chairman and CEO Jeff Immelt said: "In order to respond to the growing energy demands of the world, continued investments in technology and innovation are critical to helping develop long-term, low-cost and more efficient energy solutions."

Statoil president and CEO Eldar Sætre said: "The challenge of achieving more efficient and sustainable energy production is too large for one entity to address alone.

"The private sector has a responsibility to leverage its skills and expertise to contribute to the development of new solutions."

Both the companies have also launched an Open Innovation Challenge seeking solutions to enhance the sand usage in onshore operations.

GE Oil & Gas and Statoil will help fund the commercial development of winning approaches.

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Image: GE chairman and CEO Jeff Immelt. Photo: Courtesy of GE.