Baker Hughes Signs Agreement To Use Lytt’s Analytics Software
The collaboration will combine Lytt’s fiber-optic data analytics and cloud-based software with Baker Hughes’ completions and well intervention hardware.
Lytt, a provider of real-time, sensor-enabled software and analytics, has announced a collaboration with service company Baker Hughes. The collaboration will combine Lytt’s fiber-optic data analytics and cloud-based software with Baker Hughes’ completions and well intervention hardware.
“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.”
The joint customer offering is expected to help accelerate the digital transformation of the oil and gas sector by applying distributed sensor networks within the wellbore. This digitization is also expected to facilitate remotely monitored operations, which can reduce health, safety, and environmental risks.
The agreement also may enable the digital applications to transfer other areas. While Lytt’s collaboration with Baker Hughes will focus initially on servicing oil and gas markets, the company said in a press release that it expects to extend the technology to customers for steam-assisted gravity drainage; geothermal operations; and carbon capture, utilization, and storage.
“Lytt supports energy leaders in accelerating and reducing risk on their net-zero strategies through better use of data,” said Tommy Langnes, cofounder 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.”