GE to partner with Devon to test new technology
GE Oil and Gas has struck a deal with Devon Energy Corp. to help test its new technology for the oil and natural gas industry.Published: Tuesday, May 13, 2014 By: Adam Wilmoth Source: The Oklahoman
Devon Energy Corp. has become one of the first companies to take advantage of GE Corp.’s new global technology center in Oklahoma City.
While the global energy and industry giant was in town to celebrate the groundbreaking at its newest research hub, GE also said it has created a technology collaboration agreement with Devon to develop products and technologies to make unconventional oil and natural gas projects more economical.
“The business we’re in is getting much more complex than it was in the past,” said Tony Vaughn, Devon’s executive vice president of exploration and production. “GE brings a great research history to bear. This is about trying to take an innovative approach knowing these are much more technically challenging and complex reservoirs than we’ve dealt with in the past.”