Statoil’s technology research and development efforts will focus on developing technology to reduce carbon dioxide emissions (CO2) from oil and gas operations, as well as digital solutions, the company reported today (19 June).
With ambitious goals both within climate and digitalization, Statoil deemed it was necessary to update the company’s technology strategy. The strategy will focus on five technology directions:
All directions build on digitalization, innovation and multidisciplinary solutions.
“Statoil wants to be in the forefront of the development in the oil and gas industry. Technology and innovation are vital to finding more resources and developing projects, while at the same time reducing costs and CO2 emissions,” said Margareth Øvrum, executive vice president for Technology, Projects and Drilling, in a 19 June press statement.
“We increase our focus on technology to reduce carbon emissions and build a strong position within renewable energy. Two of five directions are dedicated to this the technology strategy,” said Elisabeth B. Kvalheim, Statoil’s chief technology officer.
The company’s goal is to spend approximately half of its 2017 research budget of US$307.7 million (NOK 2.6 billion) research budget externally. In 2020, Statoil will spend 25% of its research funds on CO2 reductions and new energy solutions. To reduce emissions from oil and gas activities, efforts are being made to develop electrification technologies, reduce emissions from turbines offshore and reduce energy consumption for new fields.
Automated drilling technology is an example of digitalization and innovation in practice. For more than 10 years, Statoil has collaborated with research institutions and the supplier industry on developing this technology, which may radically improve safety and efficiency of drilling operations. Automated drilling has the potential to drill wells up to 15-20% faster by 2020.
The technology is now being applied for the first time in the world on a mobile rig during Statoil’s exploration campaign in the Barents Sea. The Research Council of Norway has supported this technology development for a long time, and DEMO2000 funds from last year’s allocation was essential to start using the technology this year.
“Automated drilling is one of the areas where we have come furthest with digitalization, but work is ongoing on several areas. We have only seen the beginning of the innovation opportunities offered by digitalization. Just think of the possibilities if artificial intelligence can analyze all our seismic data,” Kvalheim said.
