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Honeywell's New Technologies for Upstream Oil and Gas can Boost Production Performance by 3 to 5 Percent

HOUSTON, Aug. 28, 2014 Honeywell ( NYSE: HON) Process Solutions today announced the release of Digital Suites for Oil and Gas, an innovative set of software and comprehensive services that can help oil and gas producers boost production performance by 3 to 5 percent while improving operational safety.
Responding to demands for safer and more productive operations in oil and natural gas production, Honeywell used its extensive experience in the oil and gas and related industries to introduce a unique suite of solutions specifically designed for upstream operations. The production improvements, which have been validated through customer testing, are driven by a combination of better productivity, higher uptime and more efficient remote operations, and can produce a return on investment in as little as six months. "Upstream oil and gas producers tell us they have access to more real-time data than ever, but access to that data alone is not enough to improve performance you also need digital intelligence to make sense of all the data being collected," said Ali Raza, vice president and general manager, Honeywell Process Solutions. "Digital Suites for Oil and Gas turns data into digital intelligence that helps operators make critical decisions faster by capturing, managing and analyzing the right production information."The overwhelming complexity of data in upstream production can make insightful decisions difficult, safer operations a challenge and integrated metrics beyond reach. Digital Suites for Oil and Gas can meet these challenges with data-driven solutions that are ready for new operations or integrated into existing production environments. Digital Suites for Oil and Gas software helps to ensure that essential safety procedures perform as designed, operators are fully trained, alarms are managed and enforced, and production performance is instantly available to detect and mitigate potential events. These software solutions make collaboration through remote operations a reality, helping to manage the number of local personnel, especially as the upstream industry moves farther offshore into higher-risk conditions.Digital Suites for Oil and Gas is a fully integrated offering, but each suite is also available separately, letting customers address the specific issues they face. The six suites are: Operational Data; Process Safety; Production Surveillance; Equipment Effectiveness; Production Excellence; and Operational Performance.The new offerings combine Honeywell's field-proven technologies with new software and implementation methodologies delivered through its new oil and gas center of excellence, which was recently established to better serve Honeywell's customers in the upstream oil and gas industry.Digital Suites for Oil and Gas works seamlessly with Honeywell's complete line of integrated control and safety systems, instrumentation, and industrial products, and can be easily integrated into any multi-vendor environment.For further information, please visit Digital Suites for Oil and Gas on www.honeywellprocess.com
Honeywell Process Solutions ( www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas; refining; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals and mining industries. Process Solutions is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes UOP, a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.Honeywell ( www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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