Joint venture agreement for integrated automation solutions provider
Rockwell Automation (NYSE: ROK) and Schlumberger (NYSE: SLB) announced they have entered into an agreement to create Sensia, the first fully integrated digital oilfield automation solutions provider.
The Sensia joint venture will provide measurement solutions, domain expertise, and automation to the oil and gas industry. It will offer scalable, cloud and edge-enabled process automation, including information and process safety solutions. From intelligent systems to fully engineered life-cycle management automation solutions, the joint venture will help customers drive efficiency gains through measurement and data driven intelligent automation.
“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,” said Blake Moret, chairman and CEO, Rockwell Automation. “Currently, no single provider exists that offers the end-to-end solutions and technology platform that address these challenges. Sensia will be uniquely positioned to connect disparate assets and reduce manual processes with secure, scalable solutions that are integrated into one technology platform.
“Sensia will create a leading technology provider that will further drive optimization of E&P oilfield assets,” said Paal Kibsgaard, chairman and CEO, Schlumberger. “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.”
Sensia will operate as an independent entity, with Rockwell Automation owning 53% and Schlumberger owning 47% of the joint venture. Sensia will employ 1,000 team members serving customers in more than 80 countries, with global headquarters in Houston, Texas. The management team will be led by Allan Rentcome, who will serve as CEO.
– Edited from a Rockwell Automation press release by CFE Media.