GE 2014 Annual Report Download - page 55

GE 2014 FORM 10-K 35
MD&A SEGMENT OPERATIONS | OIL & GAS
OIL & GAS
BUSINESS OVERVIEW
Leader: Lorenzo Simonelli
Headquarters & Operations
x President & CEO, GE Oil & Gas
x 20 years of service with General
Electric
x 12% of segment revenues in 2014
x 17% of industrial segment revenues
x 15% of industrial segment profit
x HQ: London, UK
x Serving customers in 150+ countries
x Employees: approximately 44,000
Products & Services
Oil & Gas serves all segments of the oil and gas industry, from drilling, completion, production and oil field
operations, to transportation via liquefied natural gas (LNG) and pipelines. In addition, Oil & Gas provides
industrial power generation and compression solutions to the refining and petrochemicals segments. Oil &
Gas also delivers pipeline integrity solutions and a wide range of sensing, inspection and monitoring
technologies. Oil & Gas exploits technological innovation from other GE businesses, such as Aviation and
Healthcare, to continuously improve oil and gas industry performance, output and productivity.
x Turbomachinery Solutions (TMS) – provides equipment and related services for mechanical-drive, compression and
power-generation applications across the oil and gas industry. Our designs deliver high capacities and efficiencies,
increase product flow and decrease both operational and environmental risks in the most extreme conditions, pressures
and temperatures. Our portfolio includes drivers (aero-derivative gas turbines, heavy-duty gas turbines and synchronous
and induction electric motors), compressors (centrifugal and axial, direct drive high speed, integrated, subsea
compressors and turbo expanders), and turn-key solutions (industrial modules and waste heat recovery).
x Drilling & Surface (D&S) ± provides drilling, completion and production products and services for onshore & offshore oil
& gas wells, and manufactures artificial lift equipment for well production and gears. The products & services portfolio
includes blowout preventers, choke valves, drilling systems, drill stem valves, elastomers, pulsation dampeners
wellheads, and surface production equipment.
x Measurement & Controls (M&C) –provides equipment and services for a wide range of industries, including oil & gas,
power generation, aerospace, metals, and transportation. The offerings include sensor-based measurement; non-
destructive testing and inspection; flow and process control; turbine, generator and plant controls and condition
monitoring, as well as pipeline integrity solutions.
x Subsea Systems (SS) – offers our customers equipment and services for subsea well completion and production and
integrated systems for enhanced recovery and comprehensive well lifecycle support. From new subsea field design and
installation to mature field intervention and enhancement, SS offers all the equipment and expertise needed to safely and
reliably maximize long-term resource value and overall efficiency. Specific products include flow control valves (known as
"Christmas trees"), pressure control systems, wellheads, manifolds, integrated work over control systems and flexible
subsea risers.
x Downstream Technology Solutions (DTS) – provides products and services to serve the downstream segments of the
industry including refining, petrochemical, distributed gas, and other industrial applications. Products include steam
turbines, reciprocating and centrifugal compressors, blowers, pumps, valves, and compressed natural gas (CNG) and
small-scale LNG solutions used primarily for shale oil and gas field development.
Competition & Regulation
Demand for oil and gas equipment and services is global and, as a result, is sensitive to the economic and political
environment of each country in which we do business. We are subject to the regulatory bodies of the countries in which we
operate. Our products are subject to regulation by U.S. and non-U.S. energy policies.