IBM’s Next Big Bet is … the Oil Industry

oil industry

IBM wants to dig more deeply into oil and gas. They want to explore more about the oil industry.

In partnership with oilfield services giant Schlumberger (SLB), IBM will create a digital platform. A platform where oil and gas companies can access real-time data and software give them a competitive advantage.

The platform will layer Schlumberger’s suite of apps, called DELFI, onto IBM technology to provide digital tools to oil and gas companies — which rely heavily on computing-heavy processes like surveying a drilling site. The software could, for example, help determine if the soil and landscape in a certain area are good for drilling, or which angle is the best to drill to access the most oil over time.

“Digital has become an imperative for our industry,” Schlumberger CEO Olivier Le Peuch told CNN Business. “The whole industry recognizes that this is what can unlock the next level of efficiency, productivity and performance.”

A tech platform for oil and gas

The Schlumberger partnership is part of IBM’s big bet on “hybrid cloud” — a technical setup that lets companies manage data using multiple clouds in addition to their own on-premises servers. It relies on software from Red Hat, which IBM acquired for a whopping $34 billion in July 2019, which makes it easier to move data between those various spaces.

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Source: CNN

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