Schlumberger and Cognite to Deliver Data-Driven Solutions at Scale for the Global Energy Industry

Rhea-AI Summary

Schlumberger (NYSE: SLB) announced a strategic partnership with Cognite to integrate its Enterprise Data Solution with Cognite Data Fusion®, enhancing operational data usage in the energy sector. This collaboration aims to streamline data from reservoirs and wells onto a unified platform, utilizing AI and analytics to optimize production, reduce costs, and support sustainability goals. The initial focus will be on improving production operations, providing customers with enhanced management of data models and quicker time to value.

Positive

• Strategic partnership with Cognite to integrate data solutions.
• Use of AI and advanced analytics to optimize production.
• Focus on reducing costs and improving sustainability goals.
• Exclusive access to Enterprise Data Solution for customers.

Negative

• None.

Enterprise Data Solution with an open, industrial platform will unlock customers’ operational data and deliver value faster

LONDON & OSLO, Norway--(BUSINESS WIRE)-- Regulatory News:

Schlumberger (NYSE: SLB) and Cognite, two leaders in technology innovation, today announced a strategic partnership to integrate Schlumberger’s Enterprise Data Solution for subsurface with Cognite Data Fusion®, Cognite’s leading open industrial DataOps platform. Through this partnership, customers can integrate data from reservoirs, wells, and facilities in a single, open platform, and leverage embedded AI and advanced analytics tools to optimize production, reduce costs and decrease operational footprint.

“Operational data in the production domain is a vastly underutilized customer asset due to its complexity and lack of contextualization at scale. Our strategic partnership with Cognite leverages Cognite Data Fusion® to extract better and faster insights from our domain-specific applications in flow assurance, process simulation, and bespoke AI solutions developed with customers. Combined with Schlumberger’s Enterprise Data Solution for subsurface, Cognite and Schlumberger are creating the first offering in the market with access to contextualized data in an interoperable platform,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “Together, we will make vast quantities of data easily available for customers to use and innovate at scale quickly, to increase production, improve financial performance, and achieve sustainability goals.”

Schlumberger will be the lead commercial partner and will exclusively provide customers with access to the Enterprise Data Solution. The partners will co-develop compatible applications and solutions, leveraging decades of digital solutions expertise from Schlumberger and Cognite Data Fusion’s unique capabilities. Schlumberger’s domain-driven AI, IoT and simulation engines integrated with Cognite’s high-performance data, and automation technologies help customers accelerate returns from their producing assets.

“Cognite’s partnership with Schlumberger provides customers in the energy sector with a secure, scalable data platform upon which business applications can deliver operational efficiencies and help achieve sustainability goals,” said Girish Rishi, CEO of Cognite. “We are honored to bring Schlumberger, a company with trusted, global roots in the energy sector, into our growing partner ecosystem.”

The partnership’s initial focus is production operations in the energy sector. For customers, this means better management of data models, improved time to value, and enhanced outcomes to increase value from their current portfolio of assets.

About Schlumberger

Schlumberger (NYSE: SLB) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com

About Cognite

Cognite is a global industrial SaaS company that was established with a clear vision: to rapidly empower industrial companies with open, contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-intensive industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability. Visit us at www.cognite.com and follow us on Twitter and LinkedIn.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws—that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “objective,” “aspire,” “aim,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies and partnerships. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913006227/en/

Media

Moira Duff – Director of External Communications, Schlumberger Limited

Tel: +1 (713) 375-3407

media@slb.com



Michelle Holford. Global PR Lead, Cognite

Tel: +47 (482) 90 454

Tel: +1 (512) 744-3420

michelle.holford@cognite.com



Investors

Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited

Joy V. Domingo – Director of Investor Relations, Schlumberger Limited

Tel: +1 (713) 375-3535

investor-relations@slb.com

Source: Schlumberger

FAQ

What is the strategic partnership between SLB and Cognite about?

The partnership aims to integrate Schlumberger's Enterprise Data Solution with Cognite Data Fusion to enhance operational data usage in the energy sector.

How will the SLB and Cognite partnership benefit customers?

Customers will benefit from streamlined data management, optimized production processes, and reduced operational costs through advanced analytics and AI.

What is the primary focus of the SLB and Cognite collaboration?

The initial focus of the partnership is on improving production operations within the energy sector.

When was the SLB and Cognite partnership announced?

The partnership was announced on September 13, 2022.