Weatherford Announces Agreement with Honeywell to Deliver Advanced Emissions Management Solution

Rhea-AI Summary

Weatherford International plc (NASDAQ: WFRD) has signed an MOU with Honeywell to deliver a combined CygNet™ SCADA and Honeywell Emissions Management suite for advanced emissions management. The integrated system aims to facilitate immediate access to essential data, empower decision-makers to act swiftly to mitigate risks, and enhance operational efficiency to achieve decarbonization targets.

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced it has signed a memorandum of understanding (“MOU”) with Honeywell to deliver a combined CygNet™ SCADA and Honeywell Emissions Management suite for advanced emissions management and accelerate customers’ decarbonization strategy.

The MOU leverages Weatherford’s CygNet™ SCADA platform, the energy industry’s first standardized solution that allows operators to process data and information in real-time to support daily operations and strategic decision making, and Honeywell's Emission Management suite, an outcome-based offering that helps customers measure, monitor, report, and reduce emissions. The integrated system will facilitate immediate access to essential data, empower decision-makers to act swiftly to mitigate risks, and enhance operational efficiency to achieve decarbonization targets.

Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “I am pleased to announce our collaboration with Honeywell, an alliance that further bridges the gap between technological excellence and environmental stewardship. This transformative offering provides cutting-edge tools and actionable data to help customers reach their sustainability goals with confidence and efficiency.”

“Honeywell is helping organizations measure emissions and produce consistent metrics for sustainability, along with providing actionable insights to drive reductions,” said Pramesh Maheshwari, President of Honeywell Process Solutions. “Our Emissions Management suite, together with Weatherford’s well lifecycle technology, enables our customers to set targets, drive emissions reductions, and monitor progress in real time to enable their net-zero journey.”

About Weatherford

Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company operates in approximately 75 countries and has approximately 18,000 team members representing more than 110 nationalities and 335 operating locations. Visit weatherford.com for more information and connect with us on social media.

For Media:
Kelley Hughes
Sr. Director, Corporate Communications and Employee Engagement
media@weatherford.com

FAQ

What is the memorandum of understanding (MOU) between Weatherford and Honeywell about?

The MOU is about delivering a combined CygNet™ SCADA and Honeywell Emissions Management suite for advanced emissions management.

What is the goal of the integrated system mentioned in the press release?

The goal is to facilitate immediate access to essential data, empower decision-makers to act swiftly, and enhance operational efficiency to achieve decarbonization targets.

Who commented on the collaboration between Weatherford and Honeywell?

Girish Saligram, President and Chief Executive Officer of Weatherford, and Pramesh Maheshwari, President of Honeywell Process Solutions, both commented on the collaboration.