Business

Oilfield services contract win for FD

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NEWRY big data firm First Derivatives has been selected by a leading global oilfield services company for the use of its Kx technology to provide operational intelligence for its customers' oil and gas field assets.

The contract, awarded after a thorough technology evaluation by the client, extends the range of Kx use cases within the energy market and showcases its ability to deliver actionable insights at the edge.

Kx is an ultra-high performance technology platform that processes real-time steaming and historical data. The flexibility and open nature of the platform will enable new processes and data-intensive analytics to be added as required both in the field and centrally.

It also represents a new use case for Kx, which the client expects to generate a high return on investment and should be of interest across the broader energy and industrial IoT markets.

Seamus Keating, chief executive at the AIM-listed First Derivatives, said: “Making decisions at the time and place where action is required can deliver major operational efficiencies.

“We believe Kx is the only technology capable of delivering this solution, enabling decision-making in real-time on vast volumes of data. As organisations increasingly look to drive action, not just reports from the data they generate, Kx stands out for its high performance and ability to operate at the edge."

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Business