Digitalization
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OMV and Cognite Extend Collaboration to Accelerate Digitalization Transformation Program
An agreement has been reached to extend and accelerate a digitalization transformation program. According to a news release, Norwegian software as a service company Cognite announced an extension of its long-term frame agreement with OMV, the international, integrated oil, gas, and chemicals company headquartered in Vienna, Austria. Using Cognite’s Industrial DataOps platform, Cognite Data Fusion,
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Shell Makes The Case for 3D Printing in the Oil & Gas Industry
According to 3dprint.com, Oil & gas majors are at what is perhaps the greatest crossroads in their history, with the largest fossil fuel conglomerates bringing in record profits, receiving record amounts of social and political backlash, and facing unprecedented uncertainty in terms of both supply and demand. Beyond the oft-discussed windfall taxes by governments, and
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Chevron Enters Agreement with Norwegian Tech Firm to Digitize Global Assets in Multi-year Deal
An oil and gas major is taking another significant step toward digitalization. According to Offshore Engineer, Kongsberg Digital has entered an agreement with Chevron Technical Center, a division of the U.S. oil major Chevron, to digitize its global assets using Kongsberg Digital’s digital twin technology. The agreement includes a multi-year commitment. “We are extremely pleased
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AI Projected to Grow at 13% Rate in Oil and Gas Market Through Forecast Period
A researcher on business trends is forecasting a major growth in artificial intelligence use in the oil and gas industry. According to a news release, the Business Research Company’s “AI In Oil And Gas Global Market Report 2023” (an information source that covers AI in the oil and gas market) is projecting AI in oil
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Partnership Made Between Mitsubishi, Magellan X for Maritime, Oil and Gas Digitalization
Two major international corporations have agreed to work together to promote digitalization in oil and gas. According to World Oil, ESG technology company Magellan X has finished a successful trial of the SOL-X innovative safety solution with MC Shipping Ltd., a global shipping company and a subsidiary of Mitsubishi Corporation. Magellan X is known for building
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Telecommunications Company to Roll out Europe’s Largest Distributed Virtual Power Plant
A Finnish telecoms company will use a multi-million dollar grant from the Finnish government to deploy a ‘Distributed Energy Storage’ solution across its network. According to Energy Monitor, telecommunications company Elisa was awarded a €3.9m ($4.16m) grant from the government of Finland to move forward with a ‘Distributed Energy Storage’ (DES) solution across its network.
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Five Oil & Gas Companies Collaborate to Increase Industry’s Digital Inventory Ecosystem
Five oil and gas companies have signed an agreement to pool resources in an attempt to standardize the digital supply of spare parts, setting an industry standard for a digital inventory ecosystem. According to the online publication, Offshore Energy, ConocoPhillips, Equinor, Shell, TotalEnergies, and Vår Energi, along with the software company Fieldnode, are developing a
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World Economic Forum Addresses Strengthening Cyber Resilience in Oil and Gas Industry
To improve the industry’s cybersecurity posture, the World Economic Forum has established the Cyber Resilience in Oil and Gas initiative. In a news release from the World Economic Forum, the Cyber Resilience in Oil and Gas initiative is led by the Forum’s Centre for Cybersecurity and Platform for Shaping the Future of Energy, Materials, and Infrastructure.
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Shell Moves Forward in Global Digitalization of Ops with Kabal Software
An oil and gas major is taking a major step toward digitalization. According to Offshore Energy, UK-headquartered energy giant Shell has advanced its digitalization journey through a global agreement with Kabal, a logistics and supply chain SaaS solutions provider to the energy industry. Kabal disclosed on Thursday that its software is already being used by
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Smart Well Market to Reach $12.9 Billion, Globally by 2031 at 6.6% CAGR, Report Says
According to a press release from Allied Market Research, the global smart well industry is expected to grow rapidly over the next decade. Allied Market Research published a report titled, “Smart Well Market by Component (Hardware, Software), by Technology (Hydraulics Based System, Electric Based Systems), by Application (Offshore, Onshore): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According
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Petronas, Emerson to Collaborate on Digital Transformation and Decarbonization Initiatives
A Malaysian oil producer is partnering with a global tech leader. According to Business Wire, Petronas signed a Memorandum of Understanding (MoU) with global technology and software company Emerson to push digital transformation and decarbonization ambitions. The two companies have partnered for many years and will now collaborate to develop advanced automation solutions. Over the
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The Importance of Supplier Diversity from Brenda Udunna at SCP Houston
Brenda Udunna has over two decades of supply chain experience in sourcing, procurement, contracting, category management, supplier onboarding, supplier diversity, data management, and governance. She has worked with some of the largest energy providers in the world, including ConocoPhillips and Phillips 66, and she currently serves as strategy and performance analysis manager of global supply
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