KBR inks deal to develop IoT tools for oil and gas firms
The agreement includes IBM’s IoT, cloud computing, advanced analytics and cognitive business solutions for the oil and gas vertical
KBR and IBM have recently reached an agreement to collaborate on the development of digital IoT products for customers in the oil and gas and petrochemical industries.
The two companies said that the new services will allow these customers to reduce costs and increase profit, reliability and safety. The companies said that due to falling crude prices and volatile socio-economic and political environments, chemical and petroleum organizations require new levels of innovation and digital solutions to improve and enhance exploration and production as well as to optimize operations, maintenance and safety.
“As chemical and petroleum companies strive to remain competitive, implementing a digital strategy will help optimize capital expenditures, reduce operating costs and help maximize the potential of the knowledge and skills of their people,” said Luq Niazi, IBM Global Managing Director, Chemical & Petroleum Industries. “Working with KBR, we will deliver analytics and cognitive solutions that diagnose, compare and enhance the production and operational activities of chemicals and petroleum assets.”
KBR said that through this agreement, customers will have access to IBM’s solutions including cloud computing, advanced analytics, Internet of Things (IoT), and cognitive business solutions.
KBR also highlighted that its technical and engineering expertise coupled with IBM’s technology platform will support better decision-making and more effective monitoring and maintenance of operations.
“We are proud to team with IBM to provide digital solutions that address the industry’s biggest challenges and needs, allowing us to add value for our customers,” said Graham Hill, KBR Executive Vice President, Global Business Development & Strategy. “This alliance combines the complementary skill-sets, know-how and intellectual properties of two leading hydrocarbons and technology companies.”
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs over 34,000 people worldwide, with customers in more than 80 countries, and operations in 40 countries.
Honeywell sees growing opportunities in Egypt
In related news, Honeywell is looking at growth opportunities in Egypt’s oil and gas industry, Middle East technology site ITP said.
“We see a lot of opportunity to expand our presence in Egypt given the huge potential of this country, and we intend to continue our support to the Egyptian oil and gas sector through research, training and innovative product development,” Evangelos Alepochoritis, sales director for Europe, Middle East and Africa at Honeywell Process Solutions, said.
“In particular, we continue to focus on expanding our IIoT and Honeywell Connected Plant offerings to help improve the productivity and efficiency of Egypt’s existing oil and gas infrastructure,” he added.
Honeywell’s Connected Plant initiative helps manufacturers leverage the IIoT to improve the safety, efficiency and reliability of operations across a single plant or several plants across an enterprise.