BAAR, Switzerland – Weatherford International plc has signed a joint initiative agreement with IBM to collaborate on the development of new products and services for oil and gas producers that leverage IBM’s analytics and Internet of Things (IoT) capabilities on the IBM Cloud.
Through the joint initiative Weatherford and IBM will develop new analytics solutions, all available via the IBM Cloud, that are based on Weatherford’s production optimization and engineering software platform, its supervisory control and data acquisition (SCADA), and its sensors and controllers.
The jointly-developed solutions will be part of the Weatherford’s new Reservoir Solutions global business unit, which was launched in early 2016 and is dedicated to providing integrated offerings that help its clients lower their operating costs and increase production.
John Brantley, global general manager for the Chemicals and Petroleum Industries at IBM, said: “As oil and gas producers look for more cost-effective solutions, there is an increasing need for more advanced analytics that enable better decision making. The combination of Weatherford’s engineering software and IBM’s data analytics software in IBM’s cloud will enable the next evolution of production optimization.”
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