IN­DUS­TRY IN TRANS­FOR­MA­TION

Lorenzo Si­monelli, chair­man and CEO of BHGE, talks about the power of trans­for­ma­tion; com­pa­nies that can trans­form to adapt to an in­dus­try in flux, and com­pa­nies that trans­form the mar­ket to make it smarter and more ag­ile

Oil & Gas Middle East - - FRONT PAGE -

The oil and gas in­dus­try favours trans­for­ma­tive com­pa­nies; com­pa­nies that are able to trans­form and adapt to an ever-chang­ing mar­ket, and com­pa­nies that trans­form the in­dus­try it­self, mak­ing it smarter, leaner and more ag­ile. Lorenzo Si­monelli, the chair­man and CEO of Baker Hughes, a GE com­pany (BHGE), is no stranger to trans­for­ma­tion. In fact, his 24-year ca­reer at GE is a tes­ta­ment to its po­ten­tial. His five-year stint as the pres­i­dent and CEO of GE Trans­porta­tion, which spans the rail, min­ing, marine and en­ergy stor­age in­dus­tries, was marked by tech­no­log­i­cal in­no­va­tion.

Fol­low­ing his ten­ure at GE Trans­porta­tion, he took the reins at GE Oil & Gas as its pres­i­dent and CEO in 2013. One year later, the in­dus­try was rocked by a crash in oil prices.

“The down­turn brought many chal­lenges and en­cour­aged all play­ers to dis­rupt their tra­di­tional ways of work­ing… with many pos­i­tive re­sults,” Si­monelli says. “Dis­rup­tion can be a pow­er­ful driver for in­no­va­tion, forc­ing le­gacy struc­tures to change and in­dus­tries to trans­form for the bet­ter.”

That may be why BHGE, which was formed through a merger be­tween GE Oil & Gas and Baker Hughes in July 2017, is so dis­rup­tive. Formed in the midst of in­dus­try down­turn, BHGE was an op­por­tu­nity to do some­thing new—cre­at­ing en­hanced op­ti­mi­sa­tion and ef­fi­ciency across the in­dus­try’s value chain. As such, it is in­her­ently trans­for­ma­tive.

Lorenzo Si­monelli, chair­man and CEO of Baker Hughes, a GE com­pany, talks about the chang­ing oil and gas land­scape: lo­cal­i­sa­tion, dig­i­tal­i­sa­tion and col­lab­o­ra­tion be­tween op­er­a­tors and ser­vice com­pa­nies “TRANS­FOR­MA­TION IS A CON­STANT, AND SOME­THING TO BE EM­BRACED.”

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