Nedlands-based technology and software company, ISS Group Ltd, has signed a deal worth more than $17 million with global oilfield services company Schlumberger to market its BabelFish software to the oil and gas industry.
The deal grants Houston-based Schlumberger exclusive rights to re-sell BabelFish to its global network of clients in the oil and gas sector, leveraging the software alongside Schlumberger's digital oilfield technology for monitoring upstream production.
With its web-based visualisation framework, BabelFish will provide production engineers and managers immediate access to information to monitor and make adjustments to operations systems across different oilfields.
ISS Group managing director Shane Atwell said the contract was testament to the BabelFish product.
"There's a $24 billion company that wants to use our product. That says something about the product," Mr Atwell told WA Business News.
Mr Atwell said ISS would benefit from access to Schlumberger's global sales force, accelerating its expansion into international markets.
Schlumberger employs more than 80,000 people across its global operations in about 80 countries.
The contract guarantees payments of $17 million, phased over several years, with additional revenue to be sourced from maintenance annuities and sales receipts above initial licence pre-purchases.
The announcement follows ISS's record contract signed last month with Kuala Lumpur-based Petronas Carigali SDN BHD, a subsidiary of major oil and gas corporation Petronas.
The contract, valued at $4 million, excluding maintenance and support services, was the single largest sales contract won by ISS Group.
ISS provides software solutions and services to industries such as oil and gas, mining, refining, minerals, chemicals and energy.
The company has offices in Australia, the US, Singapore and the UK, as well as partners in Canada, Saudi Arabia, Malaysia and Indonesia to provide local sales and service assistance.
Its clients include Fortescue Metals Group, Rio Tinto, BHP Billiton, Saudi Aramco and BG International (formerly British Gas).
