Rockwell, Schlumberger Create Digital Oilfield Joint Venture
By DJ Slater22 February 2019
Rockwell Automation and Schlumberger have paired up to create a joint venture known as Sensia. The joint venture will serve as a fully integrated digital oilfield automation products provider.
Under the agreement, Sensia will operate as an independent entity, with Rockwell Automation owning 53% and Schlumberger owning 47% of the joint venture. Sensia is expected to generate annual revenue of US$400 million and will employ 1000 employees serving customers in more than 80 countries. Sensia’s global headquarters will be in Houston, Texas.
The management team will be led by Allan Rentcome, who will serve as the joint venture’s chief executive officer. He is currently the director of global technology – systems and solutions business at Rockwell Automation.
The transaction is expected to close this summer, which is when Sensia will begin serving customers. According to Rockwell, the joint venture will be a fully integrated provider of measurement products, domain expertise and automation to the oil and gas industry. It will offer scalable, cloud and edge-enabled process automation, including information and process safety solutions. From intelligent systems to fully engineered life-cycle management automation products, Sensia will allow customers to net efficiency gains through measurement and data-driven intelligent automation, the company said.