For the past two years, Cognite has pushed a powerful message: data liberation. To us, data liberation is about breaking data free from silo systems and empowering humans and machines to make better and more informed decisions, and to seamlessly exchange data between companies across an industrial value chain for improved efficiency.
This week, we saw yet another sign that the message is resonating with the oil and gas industry.
At a signing ceremony in Vienna, Austria, on Wednesday, Cognite and OMV formally entered into a long-term agreement. The agreement makes Cognite OMV’s technology partner as the Austrian oil and gas company continues to pursue its digitalization agenda.
OMV will deploy Cognite Data Fusion (CDF), a software package that empowers industrial companies to extract value from their wealth of existing data by transforming it into useful information. CDF will enable OMV to operationalize data analytics and machine learning and to roll it out across their operations, integrating seamlessly with existing infrastructure to make all relevant data instantly available as a comprehensive set in the cloud.
By harnessing the data stored in CDF to power its digital transformation agenda, OMV will be able to easily monitor critical machinery, move from scheduled to predictive maintenance, increase production, and improve its HSSE operations.
But Wednesday’s ceremony was about more than OMV and Cognite. OMV also signed a memorandum of understanding with Aker BP, committing to collaborate on projects that explore how to set up and execute wide-scale digital transformation processes.
“The future of the oil & gas industry is digital. OMV is committed to leading the change as a digital frontrunner together with Aker BP and Cognite”, said Johann Pleininger, Executive Board member responsible for Upstream and Deputy Chairman of OMV.
Aker BP will share best practices from Eureka, their digital transformation program that started two years ago. These insights will advance the digital maturity of OMV Upstream and also benefit a wide range of suppliers and partners connected to OMV’s operations. In turn, OMV will share the insights from its digitalization program DigitUP to advance the digital transformation of Aker BP.
“We are excited to partner with OMV to advance digitalization across the industry. Our experiences with Eureka highlight how liberated, contextualized data can help companies optimize production, reduce costs, and increase worker safety. And as our work with Cognite shows, finding the right technology partner is an integral part of that digital transformation process”, said Karl Johnny Hersvik, CEO of Aker BP.
As Aker BP’s technology partner for the past two years, Cognite has helped Aker BP with their digital transformation and delivered measurable bottom line results. Cognite is providing foundational digital twins for all Aker BP’s operations, and with the support of CDF, Aker BP’s digital transformation program has increased worker safety and improved worker efficiency, reduced maintenance costs, and optimized production across installations.
“The partnership between Aker BP and OMV sends a signal to the rest of the industry to be more open and collaborative,” said Dr. John Markus Lervik, CEO of Cognite AS. “Aker BP and OMV are both strong supporters of data liberation and data sharing in the industry and are joining forces in transforming the oil and gas industry toward increased efficiency, safety, and reliability.”