Equinor and Shell sign MoU for digital collaboration

6 March 2020 (Last Updated March 6th, 2020 15:07)

Equinor and Shell have signed a memorandum of understanding to collaborate on digital solutions.

Equinor and Shell sign MoU for digital collaboration
Digital work process. Credit: Ole Jørgen Bratland/ Equinor.

Equinor and Shell have signed a memorandum of understanding (MoU) to collaborate on digital solutions.

The partnership aims to use joint experience in areas such as data science, artificial intelligence (AI) and 3D printing.

In a statement, Equinor said the collaboration could involve innovation across maintenance, production optimisation, and supply chain management (SCM). The scope of the agreement will be further detailed later, on a project-by-project basis.

Equinor ASA chief digital officer Torbjørn Folgerø 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.”

Shell digitalisation and computer science vice-president Alexander Boekhorst said: “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.”

Equinor said it has already delivered a more than $400m in 2019 cash flow by implementing new digital solutions and methods. Moreover, its has increased its 2025 improvement ambition by 50% to $3bn, up from $2bn.

In January this year, Equinor announced plans to cut greenhouse gas (GHG) emissions generated at offshore and onshore fields in Norway, in a move to reduce emissions by about 40% by 2030, 70% by 2040 and to near zero by 2050.

In July last year, Shell subsidiary Shell Offshore sold a 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Equinor Gulf of Mexico for $965m.