Rockwell Automation and Schlumberger have closed their previously-announced joint venture (JV), Sensia, the oil and gas industry’s first digitally enabled, integrated automation solutions provider on Oct. 2.
The joint venture leverages Schlumberger’s deep oil and gas domain knowledge and Rockwell Automation’s rich automation and information expertise to address this fast-growing market.
“Sensia will make industrial-scale digitalization and seamless automation available to every oil and gas company so their assets can operate more productively and profitably,” Allan Rentcome, CEO of Sensia, said. “It will make oil and gas production, transportation and processing simpler, safer, and more secure.”
Headquartered in Houston, Texas, Sensia is projected to generate initial annual revenue of $400 million and employ approximately 1,000 employees.
Sensia will operate as an independent entity, with Rockwell Automation owning 53% and Schlumberger owning 47% of the joint venture. Rockwell Automation made a $250 million cash payment to Schlumberger at closing.
Houston-based EnCap Investments said Sept. 23 it formed an “energy transition” team to pursue opportunities as renewable energy sources are poised for rapid growth.
Given that the world will rely on fossil fuels for decades, even with the most stringent government policies to reduce energy use, oil companies face their own climate emergency. How can they retain social legitimacy?
The low-carbon era is nearly upon us, say panelists at Gastech, and it brings huge marketplace changes.