Kongsberg Enters into Cooperation Agreement with KBC

Source: www.gulfoilandgas.com 4/29/2015, Location: Europe

Kongsberg Oil & Gas Technologies AS, a wholly owned subsidiary of Kongsberg Gruppen ASA (KONGSBERG), is pleased to announce a non-exclusive cooperation agreement with KBC Advanced Technologies plc (“KBC”) to develop stronger simulation software integration and more effective engineering and operation workflows. The objective is to enable the oil and gas marketplace to respond to the demand for significantly better production economics while substantially reducing the cost of design and production over field life.

The cooperation agreement defines joint technology integration activities, joint consulting and services offerings, and coordinated sales and marketing activities. Both companies have signed mutual license agreements to immediately enable cross selling of integrated software solutions.

KBC CEO, Andy Howell, said: “The market is demanding that oil and gas technology companies and suppliers develop innovative ways to create increased value in upstream field development planning, design and operations. With our combined technology suites and the depth in consulting capability of both our strong brands; KBC and Kongsberg Oil & Gas together are uniquely positioned to deliver value and to support new ways to realise margin over field life.”

P?l Helsing, President of Kongsberg Oil & Gas, added: “We are very excited at the potential benefits our combined software and consulting capability can bring to the current industry situation, and with the very clear synergy between our organisations. This approach provides short and long term benefits for our industry to address new, low levels of economic hurdle rates, and to mitigate the uncertainty and risk of future oil prices. The industry needs a novel approach to efficient production and here it is.”


Albania >>  1/20/2022 - eDrilling, a leading supplier of AI, machine learning, and predictive analytics solutions to the energy industry, and Automatic Control Engineering, a...
Norway >>  1/10/2022 - FutureOn, the global software company specialising in the energy sector and creator of the award-winning, SaaS field design applications, FieldTwin De...

Australia >>  1/6/2022 - Oceaneering International, Inc. has been awarded multiple contracts for its Integrity Management and Digital Solutions (IMDS) segment with over $80 mi...
Netherlands/Holland >>  1/6/2022 - Neptune Energy announced the development of new “digital twins” of two platforms in the Dutch North Sea, which will accelerate work schedules, and red...

Finland >>  1/5/2022 - Kalmar, part of Cargotec, has signed a joint development agreement with Coast Autonomous Inc. to speed up the development and launch of robotic soluti...
United States >>  1/5/2022 - Stem, Inc., a global leader in artificial intelligence (AI)-driven energy storage software and services, announced that it has entered into a Co-Marke...

Related Categories: Bid and Proposal Software  CAD Systems  Control Software  Design Software  e-business  Financial Accounting Software  Gas Software  General  GIS Software  Import Documentation System  Materials Management Software Materials Management  Oil Software  Petroleum Software  Process Simulation  Procurement Software  Property Management Software  Risk Management  Sales automation Software 

Related Articles: Bid and Proposal Software  CAD Systems  Control Software  Design Software  e-business  Financial Accounting Software  Gas Software  General  GIS Software  Materials Management Software Materials Management  Oil Software  Petroleum Software  Process Simulation  Procurement Software  Property Management Software  Risk Management  Sales automation Software 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.