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Offshore marine logistics giant, Topaz has entered into a long-term agreement with Baker Hughes for its proprietary lubricant condition monitoring system, VitalyX. The two firms will collaborate on boosting the maintenance and upkeep of Topaz’s fleet of vessels and increase the field time for each vessel. VitalyX exploits the Internet of Things (IoT) by integrating cutting-edge sensor hardware with condition monitoring software.
The 4th Industrial Revolution, on the back of Artificial Intelligence, 5G, the Internet of Things (IoT) and Augmented Reality, has started to appear on the horizon. A whole new world is under construction and the foundation to this world is Data, being collected from every aspect of our lives. While concerns over data protection has been voiced many times, the new Blockchain Technology has now emerged as a viable compromise.
After Skolkovo Institute, Russian-Gazprom NEFT has now reached an agreement with tech giant IBM for the development of new technologies in onshore oil production. The new technology will be used to boost the efficiency of geological exploration and production of onshore reserves. The expanded cooperation is within the framework of an agreement made on strategic cooperation between Gazprom and IBM during this year’s St. Petersburg International Economic Forum.