PanCanadian Petroleum and software giant ABB in Canada hope oil, gas and cash will flow more smoothly in a new joint-venture software company.
In a 50-50 ownership split, Calgary-based PanCanadian and St. Laurent, Quebec-based software giant ABB have created Smartcore Systems Inc. of Calgary. Financial terms were not disclosed.
Smartcore will produce and market innovative software to oil and gas well operators around the world. Executives with both PanCanadian and ABB say Smartcore’s inaugural product, iVision, will help oil and gas companies increase oil well production and reduce oil and gas well-to-pipeline operating costs.
“We’re already using it,” said PanCanadian spokesman Alan Boras.
The new iVision software enables field operators to open and close well valves, adjust compressor speeds and download new gas chemical compositions to remote computer terminals. For example, an engineer in Grande Prairie, production analyst in Lloydminister, and an optimization specialist (someone who ensures wells stay as productive as possible) in Houston can monitor a well site together via computer and the information can be shipped to a terminal at company headquarters in Calgary.
“Everybody in the company can look at (the data),” said Boras.
PanCanadian and ABB executives contend iVision will save money because problems can be identified immediately and field operators won’t have to travel to well sites as often. Executives with both companies say the iVision costs 50 per cent less than existing supervisory control and data acquisition services (SCADA).
Boras said the iVision is designed to work with existing SCADA equipment. Smartcore and ABB already offer a wellhead-to-desktop SCADA service that delivers field control, well-site monitoring data and other information directly to a client’s computer.
Meanwhile, Smartcore predicts oil and gas production will increase two to four per cent per oilfield because of increased well operating time, as a result of less downtime for maintenance and improved wellsite-to-pipeline flow.
Boras said the iVision will be used at PanCanadian operations worldwide.
PanCanadian is one of Canada’s largest producers and marketers of crude oil, natural gas and natural gas liquids with exploration and well sites from coast to coast in Canada. PanCanadian also has holdings in the Gulf of Mexico, the United Kingdom, Australia and Africa.
ABB in Canada offers automation, power transmission and distribution services, oil, gas and petrochemicals building technologies and financial services to its clients. ABB’s domestic operations employ 2,500 people at 40 facilities across Canada.
ABB in Canada is part of the Zurich-based ABB Group, which employs about 160,000 people in 100 countries.
Sandy Taylor, ABB in Canada’s petroleum business unit vice-president, said ABB and PanCanadian have “an unparalleled package to offer the global oil and gas industry.”
Last week, ABB Group paid $153 million to invest in an online commerce joint venture with U.S. software developer SKYVA International.
ABB Group also announced “new mobile telecom co-operations” with telecommunication giants Nokia and Ericsson while also unveiling a partnership with Alcatel, Legrand, Philips Lighting and Schneider which promotes electrical installation products and services in Europe.
Smartcore has set up an office at 131 9th Ave. S.W.
