Equinor and Shell have signed a Memorandum of Understanding on digital collaboration to develop solutions and methods together through the exchange of expertise within areas like data science, artificial intelligence and 3D printing.
The collaboration is expected to entail co-innovation across the whole value chain, such as maintenance, production optimization 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,” Torbjørn Folgerø, Chief Digital Officer, Equinor, said. “Such collaborations are increasingly important to strengthen safety, reduce carbon emissions and realize value by applying digital technologies.”
The agreement will be further detailed on a project basis. It will enable the companies an agile foundation to explore specific digital initiatives and projects.
“Open Innovation is key to accelerating digital innovation across the energy industry,” Alexander Boekhorst, Vice President for Digitalization and Computer Science, Shell, said. “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.”
“Equinor recently increased its 2025 improvement ambition by 50%, from $2 billion to $3 billion, mainly due to scaling digital solutions across our global portfolio faster than expected, contributing to increased production, as well as reducing maintenance, drilling and facility cost,” Mr Folgerø added.
“The speed of implementation of new digital solutions has already delivered a cashflow impact of more than $400 million in 2019, mainly due to the earlier start-up of Johan Sverdrup and increased uptime on assets connected to our integrated operations centre,” Mr Folgrø said. “Forming new partnerships and working closer with our suppliers is critical to further deliver on our improvement ambition.”