Norwegian energy giant Equinor has partnered with European neighbour Shell in a new collaboration to reduce emissions and increase safety – digitally.
The companies have signed a Memorandum of Understanding (MoU) on digital collaboration to develop solutions and methods together by exchanging expertise in areas like data science, artificial intelligence (AI) and 3D printing.
The partnership’s efforts are intended to create innovation across both company’s value-chains in areas such as maintenance, production optimisation and supply chain management.
“We are already collaborating closely in the Open Subsurface Data Universe (OSDU) initiative and see many mutual benefits as both companies have applied cloud-based digital solutions as an approach to our industry’s digital transformation. Such collaborations are increasingly important to strengthen safety, reduce carbon emissions and realise value by applying digital technologies,” says Torbjørn F. Folgerø, chief digital officer in Equinor ASA.
The agreement will be further detailed on a project basis.
“Open Innovation is key to accelerating digital innovation across the energy industry. Collaborating and building on others’ strengths is critical to deliver competitive and affordable technology. We are excited about this opportunity to co-develop digital technology with Equinor,” says Alexander Boekhorst, vice president for digitalisation and computer science in Shell.
Equinor recently increased its 2025 improvement ambition by 50%, from 2 to $3 billion mainly due to scaling digital solutions across their global portfolio faster than expected contributing to increased production, as well as reducing maintenance, drilling and facility cost.
According to a release from the company, the speed of implementation of new digital solutions has already delivered a cashflow impact of more than $400 million in 2019.
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