The collaboration is expected to entail co-innovation across the whole value chain, such as maintenance, production optimisation and supply chain management, it said. The two companies are active in exploration in some of the more expensive parts of the world, such as deepwater Brazil.

“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 Equinor.

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 $2bn to $3bn, mainly due to scaling digital solutions across our global portfolio faster than expected contributing to increased production as well as reducing maintenance, drilling and facility cost.

The speed of implementation of new digital solutions has already delivered a cashflow impact of more than $400mn last year, thanks to the early start-up of Johan Sverdrup and increased uptime on assets connected to the integrated operations centre.