Baker Hughes and bp to Collaborate on Cordant to Enhance Asset Strategy Across Key Operations
HOUSTON – March 6, 2023 – Baker Hughes, an energy technology company, announced Monday that it will collaborate with bp, the global integrated energy company, on further defining and developing CordantTM, a new Baker Hughes integrated suite of solutions for asset performance management and process optimization.
Cordant enables the standardization of asset health and strategy by integrating operational data within a probabilistic model, simultaneously optimizing the resource and cost structure without negatively impacting plant availability or production output. 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 a large installed base of rotating equipment, controls, and associated digital services. The companies will look for opportunities to expand this collaboration across other regions in the future.
“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 hydrocarbons strategy,” said Gordon Birrell, executive vice president of Production and Operations at bp. “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.”
“Faced with mounting pressures to balance cost, efficiency and sustainability, asset owners and operators are looking to digital solutions to deliver more intelligent operations,” said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. “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.”
Launched at the Baker Hughes Annual Meeting 2023 in January, Cordant is an integrated suite of solutions supporting asset performance management and process optimization for industrial and energy customers. It leverages Baker Hughes’ critical capabilities and combines existing digital offerings for hardware, software and services capabilities into one integrated and simplified user interface.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technologycompany that provides solutions to energy and industrial customers worldwide. Built on acentury of experience and conducting business inover 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.