Energy majors Equinor and Shell have signed an MOU on digital collaboration to develop solutions through the exchange of expertise within areas such as data science, artificial intelligence and 3D printing.
The collaboration will lead to co-innovation across the whole value chain, and will be further detailed on a project basis.
“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,” said Torbjør Folgerø, chief digital officer at Equinor.
“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,” added Alexander Boekhorst, vice president for digitalisation and computer science at Shell.
Equinor says that new digital solutions have already delivered a cashflow impact of more than $400m in 2019, primarly due to the earlier start-up of Johan Sverdrup (pictured) and increased uptime on assets connected to its integrated operations centre.