Agreement demonstrates the platform’s openness potential, avoiding costly and inefficient adaptation of applications
LONDON--(BUSINESS WIRE)--Oct. 10, 2023-- Regulatory News:
SLB (NYSE: SLB), Amazon Web Services (AWS) and Shell Global Solutions Nederland BV (Shell) have signed a multi-year three-way collaboration agreement to deliver digital end-to-end workflows for Shell, using SLB subsurface solutions on AWS cloud infrastructure. The collaboration is intended to deliver high performance and cost efficient subsurface digital solutions, to be used by Shell and made available to the industry. The digital workflows will use the OSDU® Data Platform standards to improve the positive customer experience by business users—increasing efficiency and collaboration, while producing better insights to Shell and the energy industry. This collaboration builds on the existing strategic collaboration agreement between SLB and AWS and accelerates the availability of SLB’s industry leading software including Petrel™ subsurface solutions and Techlog™ wellbore solutions, on AWS.
“Cloud-based computer power and reliable, available OSDU® Technical Standard-compliant data, will be a foundation for efficient subsurface workflows and help bring data to our engineers’ fingertips. Shell is committed to ongoing support and contributions to the OSDU® Forum Community, as well as to accelerating the availability of commercial solutions,” said Edwin Verdonk, Executive Vice President Development and Subsurface at Shell. “Through this MOU with SLB and AWS we aim to accelerate the arrival of cloud solutions and enabling OSDU® Data Platform access.”
“SLB, Shell, and AWS are aligned on the importance and further deployment of the OSDU® Data Platform,” said Rakesh Jaggi, President, Digital & Integration, SLB. “Our long commitment to openness enables us to deploy SLB solutions with AWS. This expands customers’ choice of cloud provider, giving them access to AWS’ significant service offering and cloud computing power for wider collaboration and increased efficiency.”
The three parties share a long-term commitment to OSDU® Data Platform: community standardization, open source, open marketplace, the ability to liberate industry data, and to maximize the technology footprint available to the industry. The expansion of SLB’s multi-platform strategy to include AWS, demonstrates the potential of the platform’s openness—SLB solutions integrating successfully with AWS cloud infrastructure, without the requirement for costly and inefficient adaptation of applications.
“This collaboration with Shell and SLB will set a new standard for application and data interoperability, to provide the best user experience at the lowest cost of operation,” said Howard Gefen, General Manager – Energy & Utilities, AWS. “The combined capabilities across Shell, SLB, and AWS will not only ensure the delivery of value at scale, but will unlock areas of innovation where the collaboration will develop new approaches and solutions to the challenges faced in subsurface workflows seen across the energy industry.”
Many operators have a goal of adopting the OSDU® Technical Standard to accelerate cycle times and reduce costs, by building data-driven decision making into their digital workflows and switching between solutions from multiple vendors, with minimal effort. The three parties are committed to working together and with other partners to further this ambition and use the unique capabilities of an Open Forum platform.
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
OSDU® is a registered trademark of The Open Group.
Petrel™ and Techlog™ are trademarks of SLB.
Cautionary Statement Regarding Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
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