ABB and OKEA to accelerate value creation using innovative business models

ABB and Norwegian fast-growing oil and gas producer OKEA have signed a Memorandum of Understanding (MoU) agreement to support OKEA 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 optimised operations for the future – with responsive new business models to maximise 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 digitalisation initiatives,” said Dag Eggan, Senior Vice President of Business Performance, OKEA.

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

The MoU will support OKEA in their strategy to maintain an efficient organisation 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.”

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