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Gorgon module loading at Avenza, Italy.

OperationsOperations ‘Power of one’ to generate growth

At the beginning of the two-day Immelt calls the “power of one.”

GE Oil & Gas 2013 event, GE Oil & Gas CEO Daniel GE believes that a 1% improvement

Annual Meeting, in its

Heintzelman highlighted signi? cant in a number of different areas

A 14th consecutive year, industry mega-trends. About can have a really big impact on 80 million boe of new production customers’ productivity. Of course, was attended by more capacity will be needed by 2020. there are areas of the business than 1000 oil and gas

There will be a ? ve-fold increase that are growing faster than others industry executives in capital expenditure per barrel – subsea, unconventionals in of new capacity added between North America. The combination from over 70 countries. 2008 and 2016. The industrial of industry growth and soon-to-

Meg Chesshyre internet will add $90 billion in retire professionals means that the value to industry through increased competition for talent remains very joined the multitude in recovery and production, and strong.

Florence, Italy.

reduced capital and operating Rod Christie, president and CEO Rod Christie, president and CEO expenditures. Heintzelman said that subsea systems with GE Oil & Gas, subsea systems with GE Oil & Gas, around 50% of today’s engineers agrees that the pace of project agrees that the pace of project agrees that the pace of project agrees that the pace of project

GE Skills would be eligible to retire by 2015. activity is increasing in the subsea activity is increasing in the subsea activity is increasing in the subsea

Development Center,

There would be a 9% growth in sphere. It was much stronger sphere. It was much stronger sphere. It was much stronger

Jandakot, Australia.

unconventional industry spend in 2012 than in 2011. “There in 2012 than in 2011. “There in 2012 than in 2011. “There between 2012 and 2015, and a 14% was a substantial increase in was a substantial increase in was a substantial increase in growth in subsea industry spend. commercial activity commercial activity commercial activity

He added that the company will in 2012. We double its technology spend in the can see that oil and gas segment over the next continuing three years. through 2013. Not only is it new through 2013. Not only is it new through 2013. Not only is it new He stressed the importance of installation, but we are starting see installation, but we are starting see installation, but we are starting see what GE chairman and CEO Jeff more brown? eld redevelopment, more brown? eld redevelopment, more brown? eld redevelopment, oedigital.com March 2013 | OEMarch 2013 | OE 5959 oe_GE_rev2.indd 59 27/02/2013 21:39