KBR and IBM recently announced they have entered an agreement to collaborate on the development of digital products and services to help oil and gas and petrochemical customers reduce costs and increase profit, reliability and safety.
Falling crude prices, volatile socio-economic and political environments and ever-increasing demands for sustainability and safety are disrupting the industry. Chemical and petroleum organisations require new levels of innovation and digital solutions to improve and enhance exploration and production, promote project capital and execution efficiency, and optimise operations, maintenance and safety.
“As chemical and petroleum companies strive to remain competitive, implementing a digital strategy will help optimise capital expenditures, reduce operating costs and help maximise the potential of the knowledge and skills of their people,” said Luq Niazi, global managing director, chemical and petroleum industries, IBM.
“Working with KBR, we will deliver analytics and cognitive solutions that diagnose, compare and enhance the production and operational activities of chemicals and petroleum assets,” added Niazi.
The agreement joins KBR's deep understanding of the hydrocarbons market (upstream, midstream and downstream) and large-scale capital projects, with IBM's solutions including cloud computing, advanced analytics, Internet of Things (IoT), and cognitive business solutions.
Customers' historical and real time data along with KBR's technical and engineering expertise coupled with IBM's technology platform will support better decision-making and more effective monitoring and maintenance of operations.
This next generation of digital solutions will empower customers worldwide by helping them in lowering capex and opex costs, enhancing operational efficiency, reducing delivery schedules, boosting facility uptime and improving plant safety.
"We are proud to team with IBM to provide digital solutions that address the industry's biggest challenges and needs, allowing us to add value for our customers," said Graham Hill, executive vice president, global business development and strategy, KBR.
“This alliance combines the complementary skill-sets, know-how and intellectual properties of two leading hydrocarbons and technology companies,” added Hill.