McDermott, GE form oil and gas consulting venture
McDermott International (NYSE: MDR) and GE Oil & Gas (NYSE: GE) have launched io oil & gas consulting, a new independent venture for front-end offshore field development.
McDermott said io will consider the full field as one system and have the technical insight to develop every aspect of the front-end solution. Its consulting model leverages the contractor community knowledge base end-to-end to offer a holistic service from one integrated and unified provider.
While io is a venture of McDermott and GE Oil & Gas, it is an independent operating model designed to provide the impartial advice while benefiting from on-demand access to specialist resources to assist in technical and commercial validation of its work. The venture offers energy companies more efficient, customized solutions at all project development stages – from portfolio evaluation, exploration and planning support, appraisal and feasibility, conceptual engineering, FEED and final investment decision support, said McDermott.