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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. 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.
Equinor recently increased its 2025 improvement ambition by 50%, from 2 to 3 billion USD, mainly due to scaling digital solutions across the global portfolio faster than expected, contributing to increased production as well as reducing maintenance, drilling and facility cost.
According to the company, the speed of implementation of new digital solutions has already delivered a cashflow impact of more than 400 million USD in 2019, mainly due to earlier start-up of Johan Sverdrup and increased uptime on assets connected to its integrated operations center.