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.
Along with technical sessions, conference panels and networking events, new technologies will be one of the major highlights of the show.
Gas-lift systems can help operators save a few dollars on their monthly power bill.
System makes it more economical to produce remote and offshore fields and lowers breakeven costs.