OTC 2018: Wood Sees Its Digital Business Expanding in Future
Kieran Kavanagh, vice president of digital solutions at Wood, confirmed Tuesday that he sees the company’s digital business “expanding” in the future.
The announcement came in response to a question posed by Rigzone at a Wood press conference, which was held during the Offshore Technology Conference in Houston, Texas.
During the press conference, Wood and IBM revealed that they had entered into a multi-year agreement to conceive and offer new digital products and services ‘that will advance operational efficiencies for customers in industrial and energy markets’.
The initial phase of the collaboration will focus on oil producers and utilities in three areas; project design and planning, asset insights, and project execution excellence.
Colin Smith, business development director for digital solutions at Wood, emphasized that the partnership was a non-exclusive collaboration and told Rigzone that both parties were able to work with other third parties.
In a press release provided at the event, the CEO of Wood Specialist Technical Solutions, Bob MacDonald, said the new collaboration would help unlock new insights.
“Building on Wood’s experience in asset development and innovation, this will dramatically advance, and differentiate, our digital skills,” MacDonald said in the release.
Wood provides project, engineering and technical services to the oil and gas sector, employing around 55,000 people in more than 400 offices around the world.
Last month, the company revealed that it had opened a new oil and gas Advanced Technology Center at its operations center in Naucalpan, Mexico.
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.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- McDermott Settles Reficar Dispute
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension