Rockwell Automation and Schlumberger Announce Closing of Sensia Joint Venture
03 Oktober 2019 - 1:54PM
Business Wire
Sensia, the oil and gas industry’s first digitally enabled,
integrated automation solutions provider, will drive efficiency,
optimize performance and reduce risk
Rockwell Automation (NYSE: ROK) and Schlumberger (NYSE: SLB)
today announced the closing of their previously-announced joint
venture, Sensia, the oil and gas industry’s first digitally
enabled, integrated automation solutions provider.
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the full release here:
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Sensia will make oil and gas production,
transportation and processing simpler, safer and more secure.
(Photo: Business Wire)
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,” said Allan Rentcome,
Chief Executive Officer of Sensia. “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.
For more information, visit www.sensiaglobal.com.
About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), the world’s largest
company dedicated to industrial automation and information, makes
its customers more productive and the world more sustainable.
Headquartered in Milwaukee, Wis., Rockwell Automation employs
approximately 23,000 people, serving customers in more than 80
countries.
About Schlumberger
Schlumberger is the world’s leading provider of technology for
reservoir characterization, drilling, production, and processing to
the oil and gas industry. With product sales and services in more
than 120 countries and employing approximately 100,000 people who
represent over 140 nationalities, Schlumberger supplies the
industry’s most comprehensive range of products and services, from
exploration through production, and integrated pore-to-pipeline
solutions that optimize hydrocarbon recovery to deliver reservoir
performance.
Schlumberger Limited has principal offices in Paris, Houston,
London and The Hague, and reported revenues of $32.82 billion in
2018. For more information, visit www.slb.com.
This press release contains “forward-looking statements” within
the meaning of the federal securities laws, which include any
statements that are not historical facts, such the expected
benefits of the joint venture; future opportunities for the joint
venture and its products and services; and the parties’ or the
joint venture’s future expectations, beliefs, plans, objectives,
financial conditions, assumptions or future events or performance.
These statements are subject to risks and uncertainties, including,
but not limited to, global economic conditions; changes in
exploration and production spending by the parties’ or the joint
venture’s customers and changes in the level of oil and natural gas
exploration and development; general economic, political and
business conditions in key regions of the world; foreign currency
risk; pricing pressure; weather and seasonal factors; production
declines; changes in government regulations and regulatory
requirements; the inability of technology to meet new challenges in
exploration; and other risks and uncertainties detailed in Rockwell
Automation’s and Schlumberger’s most recent Forms 10-K, 10-Q, and
8-K filed with or furnished to the Securities and Exchange
Commission. If one or more of these or other risks or uncertainties
materialize (or the consequences of any such development changes),
or should our underlying assumptions prove incorrect, actual
outcomes may vary materially from those reflected in our
forward-looking statements. The parties disclaim any intention or
obligation to update publicly or revise such statements, whether as
a result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191002005057/en/
Investor Contacts Jessica Kourakos – Vice President, Investor
Relations, Rockwell Automation Office: +1 (414) 382-8510 Simon
Farrant – Vice President of Investor Relations, Schlumberger
Limited Joy V. Domingo – Director of Investor Relations,
Schlumberger Limited Office +1 (713) 375-3535
investor-relations@slb.com Media Contacts Ike Umunnah – Director,
Global Public Affairs, Rockwell Automation Office: +1 (414)
382-5679 itumunna@ra.rockwell.com Joao Felix – Director of
Corporate Communication, Schlumberger Limited Office +1 (713)
375-3535 communication@slb.com
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