- Long-Term Cooperation Agreement Signed Between GE and Zentech Inc.
- Under the Frame Agreement, GE Will Provide a Full Range of Marine Solutions for Vessels Designed by Zentech
- The Collaboration Sees Zentech and GE Focus on ‘Best Fit’ Advanced Technology to Enable Cost Savings for Customers
GE’s Marine Solutions business (NYSE: GE) and Zentech Inc. announced the signature of a cooperation agreement under which the two parties will work together to provide advanced vessels for their marine and offshore customers.
Covering a range of vessel types, including self-elevating lift boats, drill ships and semi-submersibles, the agreement leverages the strong capabilities from both companies. While Zentech will contribute with its in-depth knowledge and extensive experience in design, GE’s Marine Solutions business will provide smart and advanced engineering expertise and technology in power generation, propulsion and control.
Both GE and Zentech Inc. are working together to solve the challenges faced by the industry and meet customer demands for greater levels of coherence in vessel and system design while simultaneously striving to reduce the cost of construction and overall cost of ownership.
The landmark long-term deal has already started to bear results with a first implementation contract, which sees GE set to deliver its electric power and propulsion, dynamic positioning and vessel control system solutions for Zentech’s Z-210, currently under construction at CSSC Huangpu Wenchong Shipbuilding Company Limited in China.
The Z-210 is a self-propelled, self-elevating, DP-2 capable, ABS Class, high-temperature (55 degrees Celsius) rated, four-legged mobile offshore unit capable of operating in water depths of up to 280 feet. Scheduled for delivery in 2018, the Z-210 addresses the growing needs for liftboats in the Middle East, Southeast Asia and the Far East markets where the production, well intervention and platform support activities require the capability for a wide range of water depths from as shallow as 13 feet all the way up to 280 feet.
Zentech Inc. is a Houston-based marine engineering and naval architecture firm that enjoys a global presence and a deep industrial expertise, which encompasses dynamically positioned semi-submersibles, drill ships, jack-up drilling units, modular platform drilling rigs, barge rigs, fixed offshore platforms, floating production systems, risers and pipelines.
Ramesh Maini, president and CEO of Zentech commented, “This is a defining moment in the evolution of Zentech as one of the world’s leading designers of advanced offshore solutions. As specialist designers, we are proud to be working with GE and look forward to incorporating the best of what GE has to offer into our customers’ future vessels. It’s a great prospect for Zentech, and we strongly believe that this collaboration will provide immeasurable value for our customers.”
“We are committed to meeting the operational requirements of ship operators and marine companies. Thanks to the GE Store, GE’s Marine Solutions business has one of the broadest capabilities within the industry. From prime movers, smart automation and control systems to software analytics, we are able to provide a fully integrated solution for our customers to lower project risk and cost of ownership,” said Tim Schweikert, president & CEO, GE’s Marine Solutions business. “We are very much looking forward to working with Zentech on this project and in the future.”