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General Electric investing billions to bring 'good things' to oil industry Modified: May 14, 2013 at 2:12 pm •  Published: May 14, 2013

General Electric Co. is quickly expanding their reach into the drilling world, rolling out new services and technologies to meet the needs of an increasingly technologically sophisticated industry, E&E Publishing reports. GE Oil & Gas is the fastest-growing business unit within the GE family.

The company, which last month announced plans to build a global energy research center in Oklahoma City, is busy carving out a niche for itself in the shale oil and gas boom that's spreading from the United States to other countries, while becoming particularly active in the offshore energy sector, where much more specialized electrical equipment is needed, primarily for safety reasons.

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