Oil & Gas Middle East – November 2018

(Jacob Rumans) #1

20


NOVEMBER 2018 oilandgasmiddleeast.com

COVER STORY

LEADERSHIP IN


TRANSFORMATION


T


he oil and gas industry favours
transformative companies; compa-
nies 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 stran-
ger 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 Transporta-
tion, which spans the rail, mining, marine and
energy storage industries, was marked by techno-
logical 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,” Si-
monelli 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—creat-
ing enhanced optimisation and efficiency across
the industry’s value chain. As such, it is inherently
transformative.

WORDS: CARLA SERTIN


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 CON-
STANT, AND SOMETHING TO BE
EMBRACED.”
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