Equipment maker GE has forged a long-term $180 million monitoring and maintenance contract with Transocean, a 10-to-12-year deal covering pressure-control equipment on seven rigs.
The agreement aims to optimise productivity and lower operating costs for the drilling giant, highlighting a switch to "condition-based" monitoring from "event and calendar-based maintenance," GE said in a statement.
“This agreement builds on the new service model we introduced last year to address today’s industry shift toward maximizing productivity and lowering operating costs while also maintaining operating flexibility,” said Lorenzo Simonelli, chief executive of GE Oil & Gas.
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