BP & Schneider Electric sign five-year global frame agreement

Through the agreement, both the companies will work together to minimize project risks, lower costs and increase efficiencies, while driving innovation, value and safety in a secure manner.

BP plc, a British multinational energy producing company, has reportedly signed a five-year global framework agreement with Schneider Electric, who will work for the energy producer as one of its main electrical contractors (MEC).

According to Reuters, under the agreement, Schneider will provide full-scope design and engineering services, including project management and integration, supply chain management, procurement and optimization.

Gary Freburger, President of Process Automation, Schneider Electric, was quoted saying that the EcoStruxure is IoT-enabled system architecture and platform which allows the customers to reconsider traditional approaches to design, operate and implement assets to reach first production sooner, securely and safely. After the plant will start operating, the customers will be able to leverage up-front capital investments to improve profitability and ROI with the asset-centric view of the facility across its lifecycle, he further added.

BP and Schneider Electric have been working together for many years. The MEC agreement has strengthened the collaboration. Through the agreement, both the companies will work together to minimize project risks, lower costs and increase efficiencies, while driving innovation, value and safety in a secure manner.

For the record, EcoStruxure is the interoperable, open, IoT-enabled system architecture and platform of Schneider Electric. EcoStruxure offers enhanced value around reliability, sustainability, connectivity and safety for the customers. EcoStruxure leverages advancements in mobility, IoT, analytics, cloud, sensing and cybersecurity to deliver Innovation at Entry Level. This contains Edge Control, Analytics, Connected Products, Services, and Apps. More than 480,000 sites have been deployed with EcoStruxure, with the help of over 20,000 developers and system integrators. It has connected more than 1.6 million assets under management through over 40 digital services.

For the uninitiated, BP is a global oil and gas company. It is headquartered in London, United Kingdom and is among the world’s seven oil and gas supermajors.