Schlumberger and Rockwell Create Digital Oilfield Solution
Oilfield services giant Schlumberger Ltd. and Milwaukee-based Rockwell Automation are teaming up to create a fully integrated digital oilfield automation solutions provider for the oil and gas industry.
The two companies entered into a joint venture (JV) to create Sensia. The Sensia JV will provide measurement solutions, domain expertise and automation to the oil and gas industry.
Per the agreement, Sensia will operate independently, with Rockwall owning 53 percent and Schlumberger owning 47 percent.
The JV, which will be headquartered in Houston, is expected to bring in $400 million in revenue and employ 1,000 workers.
“Oilfield operators strive to maximize the value of their investments by safely reducing the time from drilling to production, optimizing output of conventional and unconventional wells, and extending well life,” Rockwell Automation CEO Blake Moret said in a release. “Currently, no single provider exists that offers the end-to-end solutions and technology platform that address these challenges.”
Sensia was created to change that.
“Sensia will create a leading technology provider that will further drive optimization of E&P oilfield assets,” added Schlumberger CEO Paal Kibsgaard. “This joint venture is the next step in our vision to offer our customers smart, connected devices with rich diagnostic capabilities, coupled with measurement, automation and analytics that improve oilfield operations, facilitate business decisions and reduce total cost of ownership throughout the life of a field.”
The transaction is expected to close summer 2019.
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Senior Editor | Rigzone