ABB & OKEA to Accelerate Value Creation Using Innovative Business Models

Source: www.gulfoilandgas.com 7/5/2019, Location: Europe

Global technology leader ABB and Norwegian fast-growing oil and gas producer OKEA have signed a Memorandum of Understanding (MoU) agreement to support OKEA to achieve substantial productivity gains using agile and dynamic business models.

The MoU reflects future potential for OKEA to leverage ABB’s global digital leadership and industry experience in sustaining lean and optimized operations for the future – with responsive new business models to maximize operational excellence, reduce time-to-value and support cost-effective field developments at a time of high technological change in offshore operations.

'We are pleased to express our joint efforts with ABB to further develop our collaboration through this MoU, which constitutes a framework for defining a strategic partnership related to digitalization initiatives,' said Dag Eggan, Senior Vice President of Business Performance, OKEA.

'ABB is, and will continue to be, a key partner for OKEA in realizing our ambition to operate Draugen until 2040.'

The MoU will support OKEA in their strategy to maintain an efficient organization and scale production by leveraging ABB’s expertise in autonomous operations, digital solutions and advanced services.

'With deep-domain expertise and more than 50 years experience supporting oil and gas operators worldwide, we are confident ABB will create tremendous value for OKEA with this strategic collaboration,' said Tor-Ove Lussand, Local Business Manager, Norway, Energy Industries, ABB.

'ABB Ability™ – our unified digital offering extending from device to edge to cloud – combined with innovative business models, will enable a direct link between the technology and services we deliver, and the value created for OKEA.'


Denmark >>  6/27/2022 - As the global leader in wind energy, Vestas plays a leading role in providing the solutions and services needed to accelerate the energy transition. T...
United States >>  6/27/2022 - Primoris Services Corporation has entered into a definitive merger agreement to acquire PLH Group, Inc. (“PLH Group” or “PLH”) in an all-cash transact...

Australia >>  6/23/2022 - It was announced that MMA Offshore Limited has entered into an agreement to acquire Subcon International Pty Ltd through the acquisition of 100% of Su...
Denmark >>  6/23/2022 - Noble Corporation (NE) ("Noble") and The Drilling Company of 1972 A/S (DRLCO), collectively with Noble, the "Parties," provided an update on the ongoi...

Norway >>  6/22/2022 - Lundin Energy AB would like to remind shareholders that 23 June 2022 is the ex-dividend date in relation to the transaction with Aker BP. Therefore, 2...
United States >>  6/22/2022 - Atkore Inc. has acquired United Poly Systems, a manufacturer of High Density Polyethylene (HDPE) pressure pipe and conduit, primarily serving telecom,...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.