Innovation
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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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Acteon Launches Cloud-Based Platform for Offshore Energy Subsea Assets and Data
The offshore energy industry could now have a method to monitor subsea assets in a new way. According to Offshore Energy, Acteon, through its geo-services brand UTEC, has launched a cloud-based platform that gives the offshore energy industry a 360° visualization of subsea assets and data. Designed to meet the needs of the offshore renewable
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DOE Invests $47 Million to Reduce Methane Emissions From Oil and Gas Sector
The Biden administration just made a major investment in methane reduction. According to an announcement from the Department of Energy, the DOE announced nearly $47 million in funding for 22 research projects. These projects are intended to progress the development of new technologies to help detect, quantify, and reduce methane emissions across the oil 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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NESR Inaugurates Flagship Innovation Center NORI In Saudi Arabia’s Dharan Techno Valley
A major innovation hub is opening in the Middle East. According to a news release, National Energy Services Reunited Corp. (NESR), an international provider of integrated energy services in the Middle East and North Africa region, announced the opening of its NESR Oilfield Research & Innovation (NORI) Center in Saudi Arabia’s Dharan Techno Valley. NESR
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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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Hydrogen Funding Awarded $20 Million by the Hydrogen Centre of Excellence
A research and innovation agency is making a major investment in Canada’s hydrogen infrastructure. According to a company news release, the Alberta Hydrogen Centre of Excellence (HCOE) is awarding $20 million to 18 successful projects to advance innovations in hydrogen through its first funding competition. “Unlocking the potential of clean hydrogen is an essential part
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Tidal Power Project Hits Major Milestone, Energy Company Announces
A UK based energy company is among those leading the way for tidal power development. According to CNBC, an Edinburgh-headquartered firm said that its tidal power project had achieved a world first by producing 50 gigawatt hours of electricity. “During the early hours of this morning … our tidal stream array off the coast of
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Exxon to Use Honeywell Carbon Capture Tech at Hydrogen Facility
An oil and gas major has entered a new partnership for a new hydrogen facility. According to Reuters, Exxon Mobil Corp is partnering with Honeywell International Inc. to use technology to capture carbon dioxide at a proposed hydrogen production facility in Texas, Honeywell said. Honeywell said the technology allows Exxon to capture approximately 7 million
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