ISS gets huge Gorgon contract for BabelFish

$2.5 million production data monitoring contract gives 28% share price boost.

ISS Group has received a significant award from Chevron for the deployment of its BabelFish production data monitoring technology in the operations information center of the $46 billion Gorgon LNG project. The contract, valued at $2.5 million over 12 months includes the BabelFish product line, services and support. BabelFish integrates data from disparate real-time systems into a ‘holistic’ overview of complex processes.

Other recent wins for ISS include a six month software and services upgrade contract for Maersk Oil Qatar. ISS management reports that its sales pipeline is the strongest for a decade. Analyst Microcap forecasts $22 million sales for 2012, giving ISS a ‘strong buy’ rating following the announcement. ISS’ share price has risen by 28% since the announcement.

ISS Group has a resale agreement with Schlumberger for sale of BabelFish to the upstream oil and gas segment. The contract is estimated at a $20 million value over the five year period that ends in 2013. Other clients include BP, ConocoPhillips, SaudiAramco, Shell, Hess, Apache and most all Australian independents. More from ISS Group.

Click here to comment on this article

Click here to view this article in context on a desktop

© Oil IT Journal - all rights reserved.