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.
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