Thursday 28 / November / 2024
Muscat: A multi-year partnership agreement was announced between Shell, a leading international energy company, and iNNOVATEQ, a leading digital transformation solutions provider, to launch a new commercial chapter for Shell’s Production Universe (PU) software by integrating the current (PU) system with 'Nibras', iNNOVATEQ’s digital integrated asset management platform, during a press conference at the Intercontinental Hotel in Muscat recently.
PU-Nibras will start rolling out this year in more than 10 global-based Shell Assets over 6 countries across the USA, Europe, Middle East, Australia, Africa, and Asia regions.
“Shell’s aim in integrating the PU software with iNNOVATEQ’s Nibras platform is to sustain PU with cutting edge technology while reducing operating expenditures and expanding the value of PU within Shell,” says Paul Paterson, Data and Global Workflow lead at Shell.
iNNOVATEQ follows the philosophy of doing the right things, in the right way, offering their customers fit-for-purpose, hands-on, experience-driven solutions and services. We leverage over 20 years of experience to help our clients fast-track their digital transformation journeys; by focusing on what works, how to ensure wide adoption, and how to sustain the business gains.
“We look forward to enriching our offerings with this collaboration to assist petroleum operators in accelerating their digital transformations by offering PU in Nibras along with decades of innovation experience,” says Dr Riyadh Moosa, CEO at iNNOVATEQ.
PU commercialisation efforts
Expected benefits from the global collaboration between Shell and iNNOVATEQ are to bring the companies’ experiences and their operational-driven technologies and expertise to the global market by offering PU-Nibras commercial version to ensure an easier, faster, and enhanced oil and gas asset management and production optimisation.
Maximise the value generated by O&G operators, enrich the operational effectiveness and efficiency of O&G Wells management, and enable the insights-driven decision-making,
“This collaboration will unlock the full value of PU in Shell as it links the technology of PU to the integrated asset management platform of Nibras to facilitate more accurate prioritisation and faster initiation of asset actions to address deferments and optimisations,” says Wim Servaes, CTO at iNNOVATEQ.
It is estimated that PU delivers tens of millions of US dollars per year in value from the use of its output for well-by-well production allocation and real-time monitoring and optimisation.
PU is currently deployed over a range of Shell-operated production assets from Deepwater to onshore.
Nibras is currently being used by 3,000 users in 17 technical and business disciplines to manage over 8,000 wells and more than 11,000 pieces of surface facility equipment.
Nibras delivers significant business value to its clients by reducing HSE risk, saving 40 per cent of engineers’ and operators’ time, improving operational compliance by over 60 per cent, and generating over $250 million in additional annual production.
“We are confident that our collaboration with Shell will bring the industry an outstanding solution that enables customers to leverage their operational data to generate and sustain significant value,” says Mohammad Sweidan, CCO at iNNOVATEQ.
