Equinor and Shell have signed a Memorandum of Understanding (MoU) to work together on digital initiatives in business areas including maintenance, production optimisation and supply chain management.
The two energy companies are likely to exchange expertise in sectors including data science, artificial intelligence and 3D printing. There are huge benefits potentially available in digital technology and both companies believe that collaboration and open innovation provide the means of accelerating digital innovation across the energy industry.
Equinor has already demonstrated the potential scale of these benefits: the faster implementation of digital systems provided a boost to cash flow of more than USD 400 million in 2019, the company said. This was mainly due to the earlier-than-expected start-up of the massive Johan Sverdrup oil reserve and increased uptime on assets connected to the company’s integrated operations centre.
Torbjørn F. Folgerø, Equinor’s chief digital officer, said: “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.”
Speaking for Shell, vice president for Digitalisation and Computer Science, Alexander Boekhorst, commented: “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.”