Gazprom Neft and IKS-Holding are planning to focus on developing new cooperation networks with B2B clients and partners
Image: Gazprom Neft and IKS Holding have signed an agreement to establish a joint venture. Photo: Courtesy of skeeze from Pixabay.
Gazprom Neft and IKS Holding have signed a preliminary agreement to establish a joint venture, which would facilitate oil industry’s access to the digital transformation technology market.
The agreement signing held at St Petersburg International Economic Forum 2019, between Gazprom Neft chief digital transformation officer Andrei Belevtsev and Peter-Service (a part of IKS Holding) chief executive officer Igor Gorkov.
Gazprom Neft chief digital transformation officer Andrei Belevtsev said: “Together with our new partners we will focus on developing highly relevant digital solutions, scalable for the entire industry. This joint venture will ensure the monetisation of the technological value add created by our specialists through their unique expertise in the field of digital transformation of major industrial assets.”
Gazprom Neft and IKS are expected to have equal participation in the joint venture
Through the new JV, both the companies are expected to work together in developing solutions that address industry challenges, by applying artificial intelligence (AI) and advanced data-processing algorithms to support the management decision making process.
Gazprom Neft and IKS-Holding are planning to focus on developing new cooperation networks with B2B clients and partners, along with software systems for evaluating investment decisions and logistics automation systems.
Peter‑Service, the subsidiary of IKS Holding is expected to represent it in the joint venture and IKS’s other IT subsidiaries are also expected to take part in the project.
IKS Holding chief executive officer Anton Cherepennikov said: “The primary objective of our partnership with Gazprom Neft is to digitally transform the entire industry, develop and implement effective solutions which will help optimise production and reduce costs.
“There aren’t many experienced IT companies on the market that are ready to implement such large-scale projects. Our team has unique expertise and in-house methodology, extensive experience in technologies and processes, and is therefore well placed to implement joint projects with companies such as Gazprom Neft.”
The transaction is expected to be completion in third quarter of 2019, and the joint venture will be focused on both domestic and international markets involving 600 IT and engineering specialists.