McDermott International and GE Oil & Gas have launched io oil & gas consulting, a new independent venture to transform front-end offshore field development.
io will consider the full field as one system and have the technical insight to develop every aspect of the front-end solution. It offers a new consulting model that leverages the breadth of the contractor community knowledge in a way that will allow clients to buy a holistic service from one integrated and unified service provider.
“The io holistic offering is an innovative approach that leverages the experience of two leading contractors, which can remove the inefficiencies and interfaces between the major components of field development that have historically increased risks, uncertainty and costs for oil and gas operators,” said David Dickson, President and Chief Executive Officer, McDermott.
McDermott’s investment in io aligns with the company’s strategy to become more client-focused and responsive to operators’ challenges. Through early engagement at the front end of complex field development projects, io can help ensure sound engineering design from the beginning to create execution efficiencies and improved constructability.
While io is a venture of McDermott and GE Oil & Gas, its independent operating model will ensure it provides the impartial advice that energy companies are seeking, while benefiting from having on-demand access to specialist resources to assist in technical and commercial validation of its work.
“io has the right end-to-end DNA and brings a new style of free thinking that we expect will drive change in how projects are brought to market. Focused on its clients’ priorities, io offers unique value through broad and comprehensive field development expertise. As a leading offshore engineering and construction contractor, McDermott is proud to support io through its depth of technical knowledge, experience and access to the right knowledge for engineering, procurement, construction and installation services, and specialist construction equipment,” said Dickson.