Ecopetrol, Accenture and AWS Work to Help Companies Advance Journey to Water Neutrality Through First-of-its-Kind Open Platform

Rhea-AI Summary

Accenture, Ecopetrol, and Amazon Web Services have launched an innovative water intelligence and management solution to enhance sustainability within the energy sector. This cloud-based platform aims to address the entire water lifecycle, enabling energy companies to achieve water neutrality. The collaboration emphasizes reducing fresh water usage and promoting water reuse to optimize operational efficiencies. Ecopetrol targets a 66% reduction in fresh water capture and aims for zero surface water discharges by 2045, supporting its broader environmental strategy.

Positive

• Launch of a first-of-its-kind water intelligence solution to enhance operational efficiencies.
• Collaboration among Accenture, Ecopetrol, and AWS aims for sustainability in the energy sector.
• Ecopetrol's target to reduce fresh water capture by 66% by 2045, aligning with environmental goals.

Negative

• None.

New water intelligence and management solution will accelerate operational efficiencies and sustainability across the energy industry

HOUSTON--(BUSINESS WIRE)-- Ecopetrol SA (NYSE: EC), Accenture (NYSE: ACN) and Amazon Web Services, Inc. (AWS) announced a first-of-its-kind solution for water intelligence and management to help advance sustainability and operational efficiencies for energy companies.

The availability of water, one of the world’s key sustainable development goals, is a critical business imperative for resource-dependent industries. This new solution, to be housed on an open platform, addresses the entire water lifecycle—from access to treatment, recycle/reuse and disposal—enabling organizations to seek water neutrality alongside net-zero carbon emissions for a sustainable future.

Working closely with Ecopetrol and AWS, Accenture developed the cloud-based water management solution, which will:

• Become an industry platform that creates a single source of data, connecting existing ad hoc information to water volume and quality analyses, as well as costs optimization across the value chain to support decision-making;
• Apply advanced analytics to optimize water management and enhance integrated water efficiency management;
• Build an ecosystem where participants can share data and promote water reuse within and between industries.

The water intelligence and management solution will leverage Accenture industry insights and leading cloud capabilities from AWS, such as high-performance computing, storage, machine learning and artificial intelligence. The solution will help Ecopetrol reduce its water footprint by providing a greater understanding of how to decrease the amount of fresh water it captures from local sources to improve water treatment; and increase the reuse of produced water and wastewater in refining, exploration and production assets.

“Our vision is for the energy industry to lead on technological solutions to achieve water neutrality,” said Felipe Bayón, Chief Executive Officer at Ecopetrol. “Collaboration is needed to truly ignite change because companies cannot solve environmental challenges alone. We will use this platform to accelerate our TESG (technology, environmental, social and governance) strategy, including our goals of reducing 66% of fresh water captured and zero discharges to surface water by 2045, improving the environment for the communities where we operate.”

“Ecopetrol is visionary in its aspiration to achieve water neutrality—and in helping the energy industry advance toward this critical sustainability goal,” said Julie Sweet, Chair and Chief Executive Officer at Accenture. “We are honored to be working with Ecopetrol and AWS on this industrial-strength solution, which we will continuously evolve as technology advances and industries identify new applications.”

The solution will extend beyond the energy sector to help companies across industries meet their water resource challenges.

“The conservation and sustainable management of water is a priority for communities and companies around the world, and through leveraging the breadth and depth of AWS, Ecopetrol and Accenture are tackling this challenge at scale,” said Adam Selipsky, Chief Executive Officer at AWS. “Like other sustainability initiatives, water conservation is a big data problem. By combining data from previously disparate sources across Ecopetrol’s operations, and using AWS cloud-based machine learning and artificial intelligence services, this technology will enable companies across the energy industry to achieve water neutrality.”

About Ecopetrol

Ecopetrol is the largest company in Colombia and one of the leading integrated energy companies in the American continent, with more than 17,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA’s shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession.

At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.

This press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections, and, as such, they are based solely on the managers’ expectations regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 674,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.

Accenture’s energy practice helps oil and gas companies develop innovation-led capabilities to drive end-to-end transformation and make energy more available, affordable and sustainable. To learn more, visit Accenture’s Oil and Gas industry portal.

Copyright © 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

This content is provided for general information purposes and is not intended to be used in place of consultation with our professional advisors. This document refers to marks owned by third parties. All such third-party marks are the property of their respective owners. No sponsorship, endorsement or approval of this content by the owners of such marks is intended, expressed or implied.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220314005250/en/

Alexandra Santamaria

Ecopetrol

alexandra.santamaria@ecopetrol.com.co

Guy Cantwell

Accenture

+1 281-900-9089

guy.cantwell@accenture.com

Source: Accenture

FAQ

What is the new water management solution announced by Accenture and Ecopetrol on October 14, 2022?

Accenture, Ecopetrol, and AWS announced a cloud-based water management solution aimed at enhancing sustainability and operational efficiencies in the energy sector.

How does the water intelligence solution benefit Ecopetrol and its stakeholders?

The solution helps Ecopetrol reduce its water footprint by improving water treatment processes and increasing water reuse, impacting both operational costs and environmental sustainability.

What are Ecopetrol's sustainability goals regarding water by 2045?

Ecopetrol aims to reduce fresh water capture by 66% and achieve zero discharges to surface water by 2045.

What technologies are utilized in the new water management solution by Accenture and AWS?

The solution employs advanced analytics, machine learning, and artificial intelligence to optimize water management processes.

How can the new water management solution impact the broader energy industry?

This solution is expected to facilitate water conservation efforts across various industries, not just within the energy sector.