LONDON, March 27, 2017 /PRNewswire/ -- Noble Corporation plc (NYSE: NE) and GE (NYSE: GE) today jointly announced a partnership to collaborate on an advanced data analytics system for offshore drilling rigs known as the Digital Rigsm solution. The Digital Rigsm solution aims to significantly improve the operational productivity of Noble's drilling rigs. By utilizing data analytics to make asset management more efficient, the Digital Rigsm solution will allow Noble to better manage the asset lifecycle and provide a more productive drilling operation for customers.
The agreement calls for GE to initially deploy its latest digital asset performance management system on four Noble drilling rigs as part of a fleet pilot program. The expected efficiencies captured through the implementation of the Digital Rigsm solution target a 20 percent reduction in repair and maintenance expenditures across the pilot rigs. The 'data-driven drilling' model created by combining Noble's operational knowledge with GE's advanced data analytics system will have a transformative impact on the entire drilling ecosystem, including:
- Enhanced Drilling Process Efficiency – Foresight of asset anomalies and drilling process deviations to reduce operational disruptions and enhance performance consistency.
- Shift to Predictive Asset Management – Redefinition of maintenance strategies, with a focus on predictive asset management to achieve long-term, sustainable operational expenditure reductions across the fleet.
- Reduction of Third-party Service Costs – Anytime, anywhere rig visibility and insights that leverage the one-to-many impact of shore-based experts to reduce third-party service costs.
"It is time for the industry to rethink the drilling ecosystem. Offshore companies must adapt to industry disruptions by leveraging digital solutions to counteract the current downswing and for readiness to scale during a market upswing," said Tim Schweikert, President and CEO, GE's Marine Solutions. "Industry-wide collaboration underpins a solid digital future. Together, we are stronger and will get there faster. It is a privilege to partner with Noble, and we are looking forward to delivering the results enabled by the digital age."
The Digital Rigsm solution processes operational data from critical assets utilizing GE's data models and advanced analytics to detect anomalies – often a sign of potential failure or performance degradation. These anomalies can potentially be detected weeks ahead and can provide an early warning to operators to prevent the problem before it occurs.
As the system continues to learn, the Digital Rigsm solution will be able to gauge and predict the asset's condition in order to enable a shift from planned to predictive maintenance. Empowered by innovative software-based analysis, maintenance is exercised when there is evidence of need. By reducing unnecessary or excessive maintenance, the partners believe the transition to predictive maintenance will create cost-savings, mitigate the risk of maintenance-induced problems, reduce downtime, and increase drilling productivity.
In addition, the Digital Rigsm solution will provide real-time asset data to onshore experts around the globe. These experts will be able to actively monitor aspects of the drilling process and will have foresight and visibility into the condition of the assets. By allowing onshore experts to remotely diagnose and advise offshore personnel of issues before they occur, there is a potential to reduce third-party service costs.
"With shifting market dynamics, the offshore industry is on the cusp of change. Drilling contractors must seize the moment to enhance their competitive edge," said David W. Williams, Chairman, President and Chief Executive Officer of Noble Corporation plc. "We believe the shift to data-driven decisions will have a significant effect on drilling efficiencies. It is imperative for our industry to embrace the digital revolution to stay efficient and nimble, and Noble is leading the way. We look forward to developing our Digital Rigsm solution with GE."
About Noble Corporation plc
Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile and technically advanced fleets in the offshore drilling industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 28 offshore drilling units, consisting of 14 drillships and semisubmersibles and 14 jackups, focused largely on ultra-deepwater and high-specification jackup drilling opportunities in both established and emerging regions worldwide. Noble is a public limited company registered in England and Wales with company number 08354954 and registered office at Devonshire House, 1 Mayfair Place, London, W1J 8AJ England. Additional information on Noble is available at www.noblecorp.com.
GE (NYSE: GE) is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. To learn more, please visit www.ge.com.
About GE's Marine Solutions
GE's Marine Solutions is dedicated to power and propulsion systems for customers in the workboat, merchant, offshore and naval industries. Through smart engineering coupled with software analytics, we provide customers with data-driven efficiency. Connecting the physical and digital worlds, GE helps power, propel, position and predict the marine industry for operational excellence. www.gemarinesolutions.com.
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SOURCE Noble Corporation
For additional information, contact: Jeffrey L. Chastain, Vice President - Investor Relations and Corporate Communications, Noble Drilling Services Inc., 281-276-6383