Inpex, MHI Ink Memorandum on Joint Study of Technological Challenges
Japan's Inpex Corp. (Inpex) and Mitsubishi Heavy Industries, Ltd. (MHI) reported Wednesday that they have concluded a memorandum to jointly study solutions for various technological challenges in the energy sector.
Under the memorandum, Inpex and MHI intend to establish a working committee and address technological solutions including utilizing the Internet of Things (IoT) and robot technology to further optimize oil and gas production operations, the companies said Wednesday in a joint press release.
Both companies said the application of IoT -- a system where objects are connected to each other via the internet enabling object-to-object and/or object-to-human communications -- to oil and gas operations could produce benefits, including optimized development planning and reduced development and operational costs.
"Going forward, Inpex and MHI will strive to create innovative business models and opportunities transcending conventional frameworks through the joint study," according to the press statement.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Darwin Seeks To Shed Frontier Image To Become World-Class LNG Export Hub (Jul 27)
- Shell, Inpex Near Finish Line in Race to Export North Australian LNG (Apr 24)
- Australia's Ichthys Project to Import LNG to Cool Plant Ahead of Start-up (Apr 23)
Company: Mitsubishi more info
- Japan Mitsubishi Corp To Acquire 25% Stake In Bangladesh LNG Terminal (Aug 17)
- Mitsubishi Heavy Bets on New US Turbomachinery Demand (Feb 17)
- Shell-Led Group Delays Decision On Canada Gas Export Plan (Jul 12)