GE Oil & Gas (NYSE: GE) has launched five new initiatives to accelerate technology development and testing across the energy value chain, the company said in a news release.

Among the new initiatives is a joint industry project (JIP) with Statoil, Total and two other operators to develop a new and simplified subsea boosting system that has the potential to reduce lifecycle costs by up to 30% and improve operational flexibility, the release said.

Called the Modular Contra-rotating Pump (MCP), the new system draws on technology from the GE Aviation business. The MCP provides the potential to unlock and enable access to more oil in both new and mature wells in a simpler way by reducing the topside and subsea footprint by up to 50% and eliminating equipment such as the barrier fluid system needed in conventional subsea boosting systems, GE said in the release.

The company also introduced its SFX wellhead system, which aims to provide up to 16 times fatigue resistance improvement over the company’s existing systems for ultra-reliability in fatigue-critical zones. In addition, GE launched a range extension of its proven LNG Cryogenic Antisurge Valve product line, featuring. These large size valves have been tested to guarantee seat tightness, now extended to class V with temperature down to -196 °C, GE said in the release. By reducing the recirculated flow rate when the valve is closed, GE Oil & Gas said it is setting new standards for this type of valve.

GE also announced it is expanding its Massa testing site. Focus will be on supporting testing of the aeroderivative LM2500 gas turbine and becoming the global center of excellence for the testing of LM2500 gas turbines for oil and gas applications, GE said.