FLORENCE, ITALY (February 20, 2003) --- More than 600 representatives of the global oil and gas industry discussed the latest business and technology issues and trends during the 2003 GE Oil & Gas Annual Meeting, held recently in Florence.
Top executives from some of the world's leading oil companies were among those attending this fourth annual meeting. Topics ranged from the latest technology for small and mid-sized gas turbines, to advanced pipeline inspection capabilities.
During the meeting, GE Oil & Gas reported that it received $2.8 billion in orders during 2002, and produced nearly 400 units (gas turbines and compressors) for projects worldwide. GE Oil & Gas is part of GE Power Systems, a $23 billion business in 2002.
Trends in the global oil and gas market were discussed by four of the key players in the industry, including Joel Fort of Total Fina Elf, Paul Hamilton of Shell, Bogdan Budzulyak of Gazprom and Tom Rotjer of Norsk Hydro.
Among the GE executives addressing the meeting were Jeff Immelt, Chairman of the General Electric Company; John Rice, President of GE Power Systems; Del Williamson, President of Global Sales for GE Power Systems; and Claudi Santiago, President of GE Oil & Gas.
New technology introductions highlighted by GE Oil & Gas at the meeting included the Blue-C™ Subsea Centrifugal Compressor, designed to reduce the costs of deepwater oil and gas field exploitation; and the Multi-Diameter Pipeline Inspection Tool, the industry's first pipeline tool with the flexibility to inspect a pipeline that has sections with varying diameters.
Among the latest gas turbine developments highlighted were the new GE5, GE10 and MS5002E gas turbines designed for low emissions and high efficiency, reliability and availability. New combustion technologies also were featured, including the GE10 Dry Low NO
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About GE Power Systems
Ken Darling
Masto Public Relations
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1-518-786-6488