BP and Baker Hughes team up to enhance asset performance
U.S. oilfield services provider Baker Hughes has joined forces with BP, a UK-headquartered energy giant, to further define and develop its new integrated suite of solutions for asset performance management and process optimisation.
Baker Hughes revealed on Monday, 6 March 2023, that it would collaborate with BP on building out Cordant functionality and roadmap to deliver more intelligent operations to help simplify operations and enhance decision-making to improve asset availability, manage risk and lower emissions.
According to Baker Hughes, Cordant enables the standardisation of asset health and strategy by integrating operational data within a probabilistic model, simultaneously optimising the resource and cost structure without negatively impacting plant availability or production output.
Gordon Birrell, executive vice president Production and Operations at BP, remarked: “BP continues to invest in technologies and solutions to safely deliver secure, affordable, lower carbon energy. Our assets’ reliability and operational efficiency are key to our resilient hydrocarbon strategy.
“With our long-standing relationship with Baker Hughes and installed base of its equipment, software, and services, it was a natural choice to collaborate on the development of Cordant, and work together to improve reliability, efficiency and lower the emissions of our assets.”
As part of the collaboration, BP will deploy OnePM, a Cordant asset strategy solution in select locations across its Gulf of Mexico production assets, where Baker Hughes currently has an install base of rotating equipment, controls, and associated digital services. The two players plan to look for opportunities to expand this collaboration across other regions in the future.
Ganesh Ramaswamy, executive vice president Industrial and Energy Technology at Baker Hughes, commented: “Faced with mounting pressures to balance cost, efficiency and sustainability, asset owners and operators are looking to digital solutions to deliver more intelligent operations.
“Our collaboration with BP in the development of Cordant will help define new use cases, build out functionality, and accelerate the journey towards more efficient and sustainable operations.”
Cordant, which was launched at the Baker Hughes Annual Meeting 2023 in January, leverages Baker Hughes’ capabilities and combines existing digital offerings for hardware, software, and services capabilities into one integrated and simplified user interface.
This came after Baker Hughes unveiled a simplified organisational structure and management team changes in September 2022 to enhance profitability and position the firm for further growth, taking into consideration the energy trilemma of energy security, sustainability and affordability.