BP and Baker Hughes announced today that the companies are working together on the development of a new asset performance and process optimization software.
Introduced in January by Baker Hughes, Cordant is described as a suite of solutions that combines existing digital products into a single user interface. Baker Hughes notes that the software integrates with its own hardware along with technologies built by other equipment manufacturers.
BP said it plans to begin using Cordant’s asset strategy module called OnePM on an unspecified number production facilities in the Gulf of Mexico where Baker Hughes has a large equipment footprint. OnePM is already used in a variety of industrial verticals where it is touted by its developer to have helped reduce operating costs by 5–30%.
The two companies said they will work on "further defining and developing" the Cordant platform and will consider expanding its use to some of BP's other operating regions following the first project.
“With our longstanding 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,” Gordon Birrell, executive vice president of production and operations at BP, said in a statement.
Baker Hughes has launched its new software using different business models that include software-as-a-service, on-premise installations, and an outcome-based service that is tied to performance metrics. Baker Hughes has also said it plans to issue new releases of Cordant throughout the year and beyond.
Ganesh Ramaswamy, executive vice president of industrial and energy technology at Baker Hughes, added in the statement that the collaboration with BP “will help define new use cases, build out functionality, and accelerate the journey towards more efficient and sustainable operations.”
The launch of Cordant comes more than 4 years after BP and Baker Hughes—then a subsidiary of GE—announced a major deployment of the GE-developed Predix asset management platform. The partnership involved building digital twins for all of BP’s Gulf of Mexico facilities and streaming machine data from more than 60,000 sensors. GE sold its majority stake in Baker Hughes in 2019.
