USA: Automation Solutions Rockwell Automation and Schlumberger Form Joint Venture for Oil & Gas Industry
Rockwell Automation and Schlumberger have announced the closing of their previously announced Sensia joint venture. The JV will become the first digitally focused provider of integrated automation solutions for the oil and gas industry.
Houston/USA - Schlumberger and Rockwell Automation have formed a joint venture to combine the knowledge of the oil and gas industry with extensive expertise in automation and information technology.
The newly formed company, named Sensia, will provide all oil and gas companies with industrial-grade solutions for digitization and seamless automation. According to Allan Rentcome, Chief Executive Officer of Sensia, this will make oil and gas production, transportation and processing easier, safer and more reliable.
Headquartered in Houston, Texas, Sensia is expected to have initial annual sales of $ 400 million and employ approximately 1000 people. The JV will operate as an independent entity with Rockwell Automation holding 53 % and Schlumberger 47 % of the joint venture. Rockwell Automation made a cash payment of $ 250 million to Schlumberger upon closing.