Archive for July 17, 2009

Invensys Signs Outsourcing Deal with Cognizant

Invensys Operations Management, provider of automation and information technology solutions and consulting services, has entered a strategic relationship with Cognizant, a provider of consulting, technology and business outsourcing, to help improve the design, development and delivery of Invensys products and solutions for customers around the globe.

“This relationship is another important step in executing our long-term growth strategy, part of an initiative we undertook several months ago that will help us become a high-performing, integrated technology company,” said Sudipta Bhattacharya, President and CEO, Invensys Operations Management. “Leveraging a reputable and proven partner like Cognizant accelerates our ability to expand capacity and move into adjacent markets.”

Under the terms of the initial five-year agreement, Cognizant will serve as Invensys Operations Management’s global development partner. Cognizant intends to recruit and make an offer of employment to 400 Invensys Operations Management employees as part of their strategic offering to supply an array of development and maintenance services, including the development of manufacturing engineering, enterprise manufacturing intelligence, advanced applications, operations management, measurement and instrumentation, safety and critical control, supervisory control and data acquisition, and distributed control systems.

“Externally, our customers and ecosystem partners should see no difference in our products or their working relationship with us,” Bhattacharya said. “In fact, by leveraging our combined expertise and capabilities to deliver greater value, our customers should receive the intended benefits of this new relationship: faster time-to-market on new solutions, faster innovation, faster ramp up on resources and a deeper focus on the design and development of our strategic product portfolio. We believe that this long-term relationship will increase our capacity to develop strategic technology, create the flexibility to respond to changing business priorities and significantly increase our capability to quickly deliver new solutions while continuing to support our large customer base.”

Francisco D’Souza, president and CEO of Cognizant, said, “We have been very impressed with the Hyderabad development team at Invensys Operations Management and are excited at the potential innovation we will jointly drive into the manufacturing technology marketplace as they blend into Cognizant. With our global footprint and scale, we have the resources to make significant investments in infrastructure and skills development, as well as to provide attractive growth opportunities for our employees, all of which will help Invensys Operations Management accelerate delivery of their products and solutions.”

www.invensys.com

www.cognizant.com

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July 17, 2009 at 2:33 am Leave a comment

ViaLogy to Analyze Three Buckingham Fields

ViaLogy PLC has signed a multi-site services contract with The Buckingham Group of San Angelo, TX, to provide analysis on three separate lease prospects using its proprietary QuantumRD™ reservoir characterization, sizing and subsurface interpretation technology.

The Buckingham Group represents six affiliates, including a drilling company, oil and gas operator, a land management and acquisition company, investment companies and a well service company. Collectively, the group drills about 50 wells per year throughout Texas, where it holds multiple leases with extensive drilling rights.

ViaLogy’s deliverables will include characterization of hydrocarbon reservoir boundaries, subsurface formations, lithology and depth, as well as porosity estimates and recommended drill locations. QuantumRD provides a competitive advantage over conventional processing techniques in being able to discern subsurface features more accurately.

Under this contract, Buckingham and ViaLogy will target both exploratory and development wells in the 3,000 – 9,000 ft depth formations. QuantumRD will be used for analysis of multiple subsurface imaging modalities including seismic, geochemistry, magnetic and satellite datasets. Contract terms provide Vialogy with both a service fee and a success fee, paid as a working interest in all three wells.

Buckingham CEO Darryl Buckingham commented: “We are encouraged by the technology ViaLogy has introduced to the industry and expect that it will mitigate risk and provide us with a critical advantage. We are particularly looking to deploy QuantumRD for reserves on the eastern shelf of the Permian basin, where conventional 3D seismic has been unreliable and difficult due, in part, to the heavily fractured nature of underlying geology. We like ViaLogy’s approach to sharing the risk. They will receive a services fee, and when we complete wells to production, they will receive a percentage of the recovery as a success fee.”

ViaLogy’s technology rapidly and accurately detects weak signals buried in high noise background and clutter to solve problems involving sensor integration and information overload challenges involving control sensors and for enhancement of numerous signal processing applications.

Vialogy CEO Robert Dean said: “We are delighted to partner with the Buckingham Group and their production and geology teams. They have a very impressive staff with extensive experience and the vertically integrated resources to explore and drill aggressively. This collaboration will allow us to broaden the spectrum of formations where QuantumRD could add significant value.”

www.ViaLogy.com

July 17, 2009 at 12:04 am Leave a comment


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