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(Alliance News) - First Derivatives PLC said Monday its Kx platform has been chosen by a "major" oilfield services company to provide operational intelligence for the oil and gas field assets it manages.
The performance-analytics software developer said the contract expands the use of Kx in the energy sector, and is the first time the technology will be used for this purpose.
"The flexibility and open nature of the Kx platform will enable new processes and data-intensive analytics to be added as required both in the field and centrally," First Derivatives said.
Chief Executive Officer Seamus Keating added: "Making decisions at the time and place where action is required can deliver major operational efficiencies. We believe Kx is the only technology capable of delivering this solution, enabling decision-making in real-time on vast volumes of data.
"As organisations increasingly look to drive action, not just reports from the data they generate, Kx stands out for its high performance and ability to operate at the edge."
Shares in First Derivatives were 0.9% higher in London on Monday morning at 2,862.00 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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