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MarketScreener Homepage  >  Equities  >  Nyse  >  Emerson Electric Co.    EMR

EMERSON ELECTRIC CO.

(EMR)
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Emerson Electric : Digital Transformation Technologies Support Safe Operations for New Caspian Sea Platform

10/20/2020 | 06:22am EST

Central Azeri Patform, Caspian Sea, Photo: Stuart Conway/ BP.

Azeri-Chirag-Deepwater Gunashli oilfield. Photo courtesy of BP. High resolution image

Company's software and project expertise enables expedited timeline and on-time start for new BP-operated platform

Emerson (NYSE: EMR) has been awarded a $14 million contract to provide automation technologies for the new Azeri Central East offshore platform in the Caspian Sea, the latest development in the Azeri-Chirag-Deepwater Gunashli oilfield. Emerson will serve as the main automation contractor, providing its Project Certainty methodologies and digital technologies that transform capital project execution to help BP bring this fast-track project onstream in 2023.

Digital twin solutions and cloud engineering services, part of Emerson's Project Certainty methodologies, will help accelerate project execution. Emerson's digital twin solution enables virtual testing and system integration while the platform is being built and provides a simulated environment for platform operators to train, helping ensure a safe, smooth start-up and ongoing operational excellence. Cloud engineering reduces engineering costs and time by enabling global teams to collaborate and engineer in parallel regardless of location.

Emerson will apply its portfolio of automation software and services to help BP achieve greater production and safe operations. This includes Emerson's DeltaV automation system that controls critical safety functions in addition to wellhead production, drilling and the transfer of oil and gas to the onshore Sangachal Terminal.

Automation technologies also anticipate safety risks and enable remote monitoring, which reduces exposure of people and extends intervals between major maintenance turnarounds. Wired and wireless networks will connect more than 1,000 Emerson measurement instruments to monitor pressure, flow, temperature and pipework corrosion. Emerson will also provide all critical control, emergency shutdown and isolation valves, connected by its digital positioning technology.

'This latest project builds on the successful collaboration between BP and Emerson on the West Chirag and Shah Deniz Stage 2 developments,' said Jim Nyquist, group president for Emerson's systems and software business. 'Our extensive experience helping organizations achieve capital project success has enabled us to become a trusted partner to digitally transform mega projects such Azeri Central East.'

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Contacts: Emerson Automation Solutions Global Media Contacts

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About Emerson

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit Emerson.com.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 17 108 M - -
Net income 2021 1 914 M - -
Net Debt 2021 4 169 M - -
P/E ratio 2021 24,8x
Yield 2021 2,48%
Capitalization 47 813 M 47 813 M -
EV / Sales 2021 3,04x
EV / Sales 2022 2,84x
Nbr of Employees 83 500
Free-Float 62,3%
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Number of Analysts 23
Average target price 76,33 $
Last Close Price 79,95 $
Spread / Highest target 10,1%
Spread / Average Target -4,52%
Spread / Lowest Target -18,7%
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Managers
NameTitle
David N. Farr Chairman & Chief Executive Officer
Michael H. Train President
Steven J. Pelch Chief Operating Officer & Executive Vice President
Frank J. Dellaquila Chief Financial Officer & Senior Executive VP
Jake Fritz Chief Information Officer & Vice President
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