Wood Group and Librestream to provide business solutions for oil and gas sector

Wood Group and Canadian technology company Librestream Technologies have signed an agreement to provide business solutions for operations, maintenance and integrity challenges within the oil and gas sector.

The solutions will combine Wood Group’s industry knowledge with Librestream’s real time virtual video collaboration digital application.

The companies will collaborate and co-develop various discrete new technologies that have been designed to minimise the time for problem solving and associated implementation.

This in turn will increase productivity at remote sites onshore, as well as offshore.

Wood Group strategy and development head Steve Wayman said: "We believe that significant streamlining of many traditional duration-based activities through the application of smart technology such as this can be a game-changer for the industry.

"We have been working with Librestream for some time to test prototype digital devices in real-life operational situations, and under this agreement we will leverage their existing pioneering technologies and explore new development opportunities that will grow our combined offering, further enabling Wood Group to solve life cycle cost challenges faster and with greater certainty."

The partnership will also exploit synergies between Wood Group and Librestream.

Librestream Technologies chief executive and founder Kerry Thacher said: "Librestream has successfully provided video collaboration technology to a range of industries worldwide since 2007.

"The partnership with Wood Group brings technology and services together as a coherent solution, delivering significantly faster response times between remote sites."