Rockwell Automation, one of the world's largest industrial automation companies, based in Milwaukee, has announced the creation of a $ 400 million joint venture with a French company. exploration and production of oil and gas.
Called Sensia, it will bring Rockwell technology to Schlumberger Ltd., based in Paris, which has achieved a turnover of nearly $ 33 billion in 2018.
As part of the transaction, Rockwell announced that it would make a cash payment of $ 250 million to Schlumberger at the closing of the transaction this summer.
Under the terms of the agreement, Sensia will be an independent entity, owned 53% by Rockwell and 47% by Schlumberger.
Sensia is expected to generate $ 400 million in annual revenue and employ approximately 1,000 people serving customers in more than 80 countries, Rockwell said in a press release.
The joint venture will be based in Houston, where Rockwell employs approximately 300 people.
"Oil field operators strive to maximize the value of their investments by safely reducing the time between drilling and production, by optimizing the production of conventional and unconventional wells and by extending the duration of living wells, "said Blake Moret, President and CEO of Rockwell, in a statement.
"Currently, there is no single vendor offering end-to-end solutions and the technological platform to address these challenges," Moret said.
Sensia's management team will be led by Allan Rentcome, currently head of Rockwell's Global Technology – Systems and Solutions Business division.
"This joint venture is the next step in our vision: to provide our customers with smart connected devices with extensive diagnostic capabilities, coupled with measurement, automation and analytics capabilities that enhance the operations of customers." oil fields, facilitate business decisions and reduce the total cost of ownership throughout the life of a company. (oil and gas), "said in a statement Paal Kibsgaard, chairman and CEO of Schumberger.
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