GE and Diamond Offshore has signed a subsea Blowout Preventer service agreement

Diamond Offshore Drilling, Inc. and GE Oil & Gas today announced the offshore drilling industry’s first-of-its-kind, ten-year contractual service agreement that transfers full accountability for BOP performance to GE Oil & Gas. In this Pressure Control by the Hour™ model, Diamond Offshore will compensate GE Oil & Gas only when the BOP is available. The arrangement will include GE purchasing the BOP systems aboard Diamond Offshore’s four drillships, currently located in the U.S. Gulf of Mexico, for a total of $210 million.
The GE Oil & Gas engageDrilling™ Services offering enhances BOP system availability by transferring the maintenance and service of pressure control equipment to GE Oil & Gas. This includes on-rig GE Oil & Gas personnel, management of parts, overhaul and repair, continuous certification, data monitoring, and management of change.
Under the new service model, Diamond Offshore will begin capturing data through GE’s monitoring and analytics solutions. Over time, this will enable condition-based monitoring and maintenance, which will drive proactive decision-making and planning to address the requirements of industry standards for drilling systems. By transferring the maintenance and service of well control equipment to GE Oil & Gas, Diamond Offshore is simplifying operations and optimizing between well maintenance to reduce the frequency and duration of downtime.