Yokogawa Corporation of America, a subsidiary of Yokogawa Electric Corporation (TOKYO: 6841), and Dover Energy Automation, an operating company within Dover Corporation (NYSE: DOV), are pleased to announce that they will join forces to create the “Well Managed™” product portfolio. This collection delivers an optimized business operations solution to customers, allowing both companies to solve key challenges across the oil and gas industry.
The strategic collaboration will increase performance from a single well to an entire field. More specifically, it will help operators monitor, control and enhance well-site performance in order to improve productivity and return on investment.
“We are excited to combine Dover Energy Automation’s production optimization solutions with Yokogawa’s broader platform to provide the oil and gas industry with a one-stop automation solution,” said Ali Raza, President of Dover Energy Automation Production Optimization. “This solution brings the well site to our customers’ fingertips, providing optimized production safely, securely, and with environmental responsibility.”
Yokogawa delivers patented innovations in liquid and gas metering, specializing in process automation and optimization, highly reliable field instruments, information creation and secure cloud platforms, as well as a proven history of delivering integrated, Six Sigma-compatible systems. Dover Energy Automation has deep domain knowledge in artificial lift optimization and control, oil field services and chemical injection systems, along with condition monitoring and asset optimization. The combined set of powerful offerings will empower customers to experience a Well Managed™ field – achieving production and efficiency goals that are impossible to reach without co-innovation. Yokogawa and Dover are committed to continually improving customer results by enhancing field management, multi-well control, and providing predictive analytics to augment their existing solution offerings to customers.
“Our goal is to provide critical operational infrastructure that applies domain, knowledge-based analytics to deliver information, which allows our customers to optimize safety and operations,” said Kevin McMillen, Director, Sales and Sales Operations for Yokogawa Corporation of America.
The knowledge and technology of these two companies will merge to create an industry-leading platform to collect and transform well site and field data into actionable intelligence that can be used to boost an oil and gas producer’s strategic position.