GE-Statoil initiative launches second open innovation challenge

Through crowd sourcing, the Challenge seeks to find innovative solutions for both reducing fresh water usage and treating and reusing water from development activities—while maintaining or improving productivity.

“This collaboration with Statoil is centered on both our companies’ commitment to continued investment in technology and innovation to help develop low-cost and more efficient energy solutions. We recognize that great ideas transcend any one company or geography, which is why we’ve launched this open innovation challenge,” said Eric Gebhardt, chief technology officer, GE Oil and Gas. 

“We invite individual innovators, institutions and companies—large and small— from around the world to co-develop potential solutions to make energy production more sustainable by improving the use of water in unconventional operations.”

Ideas at any scale

Water, a precious natural resource, represents one of the greatest environmental stewardship challenges facing the oil and gas industry. Companies involved in onshore unconventional development and production, in particular, have a strong incentive to develop technologies and methods that reduce fresh water usage, as well as treat and recycle water that returns to the surface as part of their operations.

“Ideas at any scale are welcome,” said Lars Høier, senior vice president, Research, Development & Innovation, Statoil ASA. 

“Even incremental strides in improving water management can add up to significant conservation gains. Wherever possible we try to reduce freshwater usage; for example we recently successfully fractured  two wells with 100% produced water, saving 3.5 million gallons of freshwater per well – and we are eager to do more to help move the industry towards better water conservation.”

The collaboration was launched in January as an ambitious joint technology-focused program to drive industrial solutions to some of the biggest challenges facing global oil and gas production. The initiative seeks to reduce the environmental impact of oil and gas development and production by accelerating the development of environmentally and economically sustainable energy solutions.

Water after sand 

In this second challenge, up to five winning entries will win a prize of $25,000 USD each and the opportunity to be eligible to receive additional funding from an available discretionary prize pool of $375,000 USD in development funds. Also, GE Oil & Gas and Statoil will leverage their joint assets and resources to support the commercialization of the winning submissions.

The launch of the Water Challenge “Reduced Use and Reuse of Water in Onshore Operations” comes just as the Sand Challenge (“Reduced Use of Sand in Onshore Operations”) draws to a close.  The Sand Challenge focused on reducing the amount of (or replacing) sand required to drill and maintain productive wells. Finalists in that Challenge will be announced later in July.

For more information on the challenge please visit poweringcollaboration.comfor updates, submission forms, and winner and finalist profiles.

How A Foreign Drugstore Differs From A Local Pharmacy

- Advertisment -

Must Read