GE and Iraqi Ministry of Oil signed a partnership agreement

GE Oil & Gas has signed a first-of-its-kind partnership agreement with the Iraqi Ministry of Oil that aims to strengthen the performance of the nation’s energy sector by providing equipment, technology upgrades, maintenance of the Ministry’s fleet and ensuring knowledge transfer, skills development and local jobs.
It also envisages the setting up of the country’s first Monitoring & Diagnostics Center that will leverage GE’s Digital solutions. The 24/7 center will take Big Data from sensors embedded in the Ministry’s equipment and with advanced software analytics will offer web-based solutions that enable predictive maintenance, reduced downtime and overall improved operational efficiency.
In addition, GE Oil & Gas will partner with the Ministry of Oil to develop financing structures for its projects by tapping into its international knowledge and expertise in supporting major Oil & Gas projects around the world.
GE has recently signed a ‘Power Up Plan’ with the Iraq Ministry of Electricity for critical electricity generation and maintenance projects throughout the country. The plan comprises a set of technological solutions, and upgrade projects to be carried out to ensure essential incremental power is added to the national grid in time for the summer period.