GE Oil & Gas and McDermott International launched “io oil and gas” consulting Thursday, a new independent venture to provide consulting for the development of front-end solutions for offshore fields.
io said it aims to deliver greater certainty into the design and planning of the offshore oil and gas field and “overhaul the current operator-contractor relationship.”
The firm will offer a range of services including portfolio evaluation, exploration and planning support, appraisal and feasibility, conceptual engineering and FEED to the final investment decision.
The JV will treat client’s fields as “one system” and will leverage the expertise of both partner companies to provide technological insight to develop every aspect of front-end solutions.
The firm will operate independently of its partner companies although it will provide clients with access to GE and Houston-based McDermott’s specialized resources.
io is headed by CEO Dan Jackson, chief technology officer Mark Dixon, COO Tony McAloon, CFO Oliver Dixon.
“The launch of io represents a significant development that will challenge the way our industry operates. io combines industry expertise and powerful thinking to deliver greater certainty of costs and schedule to offshore field developments,” Jackson said.
io is headquartered in London and will launch satellite offices in the United States and Asia.