The joint customer offering will help accelerate the digital transformation of the oil and gas sector by applying distributed sensor networks within the wellbore, producing actionable insights that optimise production from oil and gas fields. Digitisation further enables remotely monitored operations that can reduce health, safety, and environmental risks.
The collaboration agreement also has transferable digital applications to other areas. While LYTT’s collaboration with Baker Hughes will focus initially on servicing oil and gas markets, the team expects to extend enhanced technology solutions to customers for steam-assisted gravity drainage (SAGD), geothermal, and carbon capture, utilisation and storage (CCUS).
“LYTT supports energy leaders in accelerating and reducing risk on their net-zero strategies through better use of data,” said Tommy Langnes, co-founder and chief business development officer at LYTT. “Oil and energy companies know they need to transform to meet their challenges both now and in the future, and LYTT supports their ambitions by bridging the data gap and arming energy companies with critical insights to drive an operational step change. Our collaboration with Baker Hughes is an opportunity for both parties and for the energy sector to accelerate their digital journeys.”
“Baker Hughes’ collaboration with LYTT further strengthens our existing digital capabilities to transform customers’ operations by increasing the productivity, performance, and longevity of their oil and gas assets,” said Jim Sessions, vice president of completions and well interventions for Oilfield Services at Baker Hughes. “We formed this collaboration with LYTT because of its unique capability to integrate its software technology with our hardware and services to accelerate our customers’ digital transformation journeys.”
Read the latest issue of Oilfield Technology in full for free: Issue 3 2021
Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.
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Read the article online at: https://www.oilfieldtechnology.com/digital-oilfield/20092021/lytt-and-baker-hughes-collaboration-aiming-to-accelerate-digital-transformation-of-oil-and-gas-operations/