BP plc (BP), General Electric (GE) Announce Start of Plant Operations Advisor
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
- JPMorgan (JPM) Reports Q4 EPS of $1.71
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
BP (NYSE: BP) and GE (NYSE: GE) announced the start-up of Plant Operations Advisor (POA), a new digital solution designed to improve the efficiency, reliability and safety of BP’s oil and gas production operations. Plant Operations Advisor is already helping BP manage the performance of one of its platforms in the Gulf of Mexico and, subject to a successful pilot, it will be deployed next year to other BP facilities around the world.
The tool, built on GE’s Predix operating system, was created as part of a development partnership the two companies announced in January.
“BP gravitates toward new technologies, especially digital, and that makes working with them particularly exciting,” said Lorenzo Simonelli, president and CEO, GE Oil & Gas. “We are taking a big step forward together during this time of digital transformation, deploying what we’ve co-created over the past year to drive the kind of productivity improvements that the oil and gas industry needs. The global deployment is expected to be the largest-scale deployment of GE’s Predix-powered APM technology to date.”
Plant Operations Advisor will help prevent unplanned downtime and improve facility reliability by helping engineering teams respond quickly to issues as they occur in real-time.
“By bringing together some of the best minds at GE and BP, we were able to develop this innovative digital product and are confident that it will have a significant impact on our business,” said Ahmed Hashmi, BP’s Head of Upstream Technology. “When fully deployed, these advanced digital technologies will change the way we work and improve the integrity and performance of our assets around the globe.”
Using GE’s Predix and Asset Performance Management (APM) capabilities, POA rapidly integrates operational data from producing oil and gas facilities to deliver notifications and analytical reports to engineers so they can identify operational performance issues before they become significant.
The system provides simplified access to a variety of live data feeds and includes visualization capabilities including a real-time facility threat display. It also incorporates an extensive case management capability to support learnings from prior operational issues.
GE intends to offer this technology, which combines big data, cloud hosting, and analytics on both individual pieces of equipment as well as the entire production system, as an APM solution that will be available to the industry.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Delphi Automotive (DLPH) to Take $300M Pre-Tax Charge Related to Summary Judgment in Unsecured Creditors Litigation
- GameStop (GME) Holiday Comps Fall 18.7%, Reiterates Prior Guidance
- VisionChina (VISN) Names BDO China as Independent Auditors
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!