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Kongsberg Signs Agreement for Real Time Software Worth $25M

Source: 5/18/2020, Location: Europe

Kongsberg Digital has signed a MUSD 25 agreement for the delivery of real-time data aggregation and visualization software and various domain specific services for a major energy company. The agreement includes an upside potential of up to MUSD 5 over the next five years, should the customer decide to expand delivery to all installations.

The agreement is covering a portfolio of software services for data aggregation, visualization and decision support. These services are proven in the market to enable safer, faster and more cost-efficient decision-making by integrating real-time data and historical data with a set of advanced domain specific algorithms. This solution enables remote collaborative problem solving and preventive decision making in real time, enhancing operational efficiency and more secure operations.

"At all times, reducing HSE incidents and minimizing non-productive time is a number one priority for our customers. Real-time data monitoring systems increase precision, safety and efficiency in critical operations and this contract signifies a continued market demand for these solutions", says Geir Haoy, CEO of KONGSBERG.

Through raw data monitoring and real-time calculations, real-time data monitoring systems help operators get increased situational awareness, the ability to predict and pre-empt potential problems and improve the efficiency of their operations.

"Real-time data monitoring systems provide operators with eyes on and insight into critical processes, which increases control and stability of operations significantly. We look forward to working with the customer to help realize the value of their data", says Hege Skryseth, President, Kongsberg Digital.

These services will be delivered by Kongsberg Digital over the course of five years.

Due to contract obligations the customer and specific product will be non-disclosed.

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