Tieto acquires Petrostreamz

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Tieto acquires Petrostreamz

Combining Energy Components and Pipe-It to increase value for upstream and midstream Oil & Gas customers

We are pleased to announce that Petrostreamz has been acquired by Tieto. Tieto Oil and Gas, is the global market leader within the area of Hydrocarbon Accounting (HCA) and Production Data Management (PDM) through its Energy Components (EC) software. EC is a complete end-to-end solution seamlessly integrating production management, allocation, reporting and HCA. EC is used globally, covering a wide range of different oil and gas operations within the upstream and midstream domains, with 500+ licenses been sold around the world.

Joining forces with Petrostreamz, Tieto is adding Pipe-It to its offering portfolio and stepping into the IAM domain. Further, by combining Pipe-It and EC for optimization, forecasting and decision support, Tieto is capable of providing integrated Hydrocarbon Management (HCM) solutions based on the data already available in EC.

What is next?

We are very excited about what this acquisition will result in, and we are confident that Tieto is the right place for our software, technology and people. We believe that in Tieto’s hands, we will continue to provide the same quality of software and services, while reaching a wider global audience.

For our valuable customers this will mean:

  • Ongoing projects and relations will continue as normal. Points of contact with Petrostreamz will remain the same.
  • We are becoming part of a global organization with a strong presence in the O&G business. This will enable us to provide better services, better support, and will allow us to focus more on R&D activities, all for the benefit of our customers.
  • The integration of Pipe-It in Tieto’s existing and new solutions for hydrocarbon accounting and management will strengthen our trademark IAM solution.
  • Several new forecasting and optimization solutions, integrating Pipe-It with Energy Components (EC) will be announced in the near future.

If you have any questions or comments, please do not hesitate to get in touch.

2018-02-22T10:04:59+00:00 February 21st, 2018|News, Pipe-It|