Emerson Electric Gets Contract to Support Operations on Caspian Sea Platform
October 20 2020 - 12:56PM
Dow Jones News
By Stephen Nakrosis
Emerson Electric Co. said Tuesday it was awarded a $14 million
contract to provide automation technologies on a new offshore oil
platform in the Caspian Sea.
The company said it will provide "software and project
expertise" to the new Azeri Central East offshore platform in the
Caspian Sea, the latest development in the Azeri-Chirag-Deepwater
Gunashli oilfield, and enable an "expedited timeline and on-time
start for new BP-operated platform."
Emerson said it will be the main automation contractor,
"providing its Project Certainty methodologies and digital
technologies that transform capital project execution to help BP
bring this fast-track project onstream in 2023."
Emerson shares rose 0.9% to $70.53.
Jim Nyquist, group president for Emerson's systems and software
business, said: "This latest project builds on the successful
collaboration between BP and Emerson on the West Chirag and Shah
Deniz Stage 2 developments."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 20, 2020 12:41 ET (16:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Emerson Electric (NYSE:EMR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Emerson Electric (NYSE:EMR)
Historical Stock Chart
From Apr 2023 to Apr 2024