Rockwell & Schlumberger Complete Deal for Joint Venture
08 October 2019
Rockwell Automation and Schlumberger have announced the completed deal of their joint venture, Sensia, the oil and gas industry’s first digitally enabled, integrated automation solutions provider. Rockwell Automation made a $250 million cash payment to Schlumberger at closing.
Sensia will drive efficiency, optimize performance and reduce risk. Headquartered in Houston, Texas, Sensia is projected to generate initial annual revenue of $400 million and employ approximately 1,000 employees.
The joint venture leverages Schlumberger’s deep oil and gas domain knowledge and Rockwell Automation’s rich automation and information expertise.
“Sensia will make industrial-scale digitalization and seamless automation available to every oil and gas company so their assets can operate more productively and profitably,” said Allan Rentcome, Chief Executive Officer of Sensia. “It will make oil and gas production, transportation and processing simpler, safer, and more secure.”
Image credit: Schlumberger