SLB and TotalEnergies Announce 10-Year Partnership to Collaborate on Next-Generation Digital Solutions

Rhea-AI Summary

SLB and TotalEnergies have announced a 10-year partnership to develop and deploy scalable digital solutions aimed at enhancing energy resource access, performance, and efficiency. The collaboration will focus on integrating advanced digital capabilities, such as artificial intelligence, with SLB's Delfi™ digital platform, adhering to the OSDU® Technical Standard. The partnership will initially target subsurface digital solutions for reservoir engineering and geoscience modeling, leveraging real-world learnings from both companies. This co-development aims to benefit TotalEnergies' global operations and SLB's worldwide customer base, addressing key challenges across the energy value chain, including carbon capture, utilization, and sequestration (CCUS). The combined expertise of both companies is expected to accelerate the delivery of new digital capabilities for the entire industry.

Positive

• SLB and TotalEnergies have formed a 10-year partnership to develop digital solutions for energy resource access, enhancing performance and efficiency.
• Integration of advanced digital capabilities, including AI, with SLB’s Delfi™ digital platform, adhering to the OSDU® Technical Standard.
• The partnership will initially focus on subsurface digital solutions for reservoir engineering and geoscience modeling.

Negative

• None.

Insights

Tech Expert

The partnership between SLB and TotalEnergies to develop digital solutions leverages artificial intelligence (AI) and advanced data analytics. Integrating these technologies onto SLB's Delfi™ platform could significantly enhance the efficiency and accuracy of reservoir simulation and geoscience modeling. AI-driven subsurface solutions will likely reduce time and resource expenditure on exploration and production while improving predictive accuracy regarding reservoir behavior.

This collaboration is set to impact the oil and gas sector positively by improving operational efficiency and reducing emissions through optimized carbon capture and storage techniques. Additionally, adopting the Open Group's OSDU® Technical Standard aligns with industry efforts toward interoperability and data sharing, which are critical for broader digital transformation in the energy sector.

Retail investors should note the potential long-term benefits such as cost savings and environmental compliance improvements, which could translate to stronger financial performance for both companies.

Market Research Analyst

The collaboration between SLB and TotalEnergies to develop digital solutions is likely to create a ripple effect across the industry. This partnership aligns with a growing trend of digital transformation in the energy sector, aimed at increasing efficiency and reducing environmental impact. By focusing on carbon capture, utilization and sequestration (CCUS) solutions, the companies are also addressing increasing regulatory and market pressures for sustainable practices.

Investors should consider the strategic positioning this joint venture offers. By enhancing their digital capabilities, both companies could gain a competitive edge, attracting more business from customers looking for advanced and efficient solutions. This might not have an immediate impact on stock prices, but the long-term potential for market leadership and revenue growth is notable.

Environmental Analyst

This partnership has substantial environmental implications, particularly in the area of carbon capture and storage. The integration of AI and advanced digital solutions can significantly enhance the effectiveness of CCUS technologies, which are essential for meeting global emissions reduction targets. By co-developing these solutions, SLB and TotalEnergies are not only improving their own sustainability profiles but are also contributing to broader environmental goals.

For investors, this means a dual benefit: supporting companies that are taking significant steps toward sustainability while also potentially seeing financial returns from innovations that meet regulatory demands and reduce operational costs.

LONDON--(BUSINESS WIRE)-- Regulatory News:

SLB and TotalEnergies will combine digital and domain expertise to accelerate the development and deployment of digital solutions at scale. (Photo: Business Wire)

SLB (NYSE: SLB) and TotalEnergies (NYSE: TTE) today announced a 10-year partnership to co-develop scalable digital solutions for enabling access to energy resources, with improved performance and efficiency. The partnership establishes a flexible framework for the companies to work together on addressing key challenges across the energy value chain, including carbon capture, utilization, and sequestration (CCUS).

The companies will integrate advanced digital capabilities, including artificial intelligence (AI), with new and existing applications on SLB’s extensible Delfi™ digital platform, adhering to the Open Group’s OSDU^® Technical Standard. SLB and TotalEnergies will combine digital and domain expertise to accelerate the development and deployment of digital solutions at scale. The co-development will benefit TotalEnergies’ global operations and SLB’s worldwide customer base.

“Collaboration and knowledge sharing are key for our industry to continuously develop more effective ways of unlocking energy access,” said Rakesh Jaggi, President of SLB’s Digital & Integration business. “With this visionary partnership, we’re combining the know-how and expertise of both companies to accelerate the delivery of new digital capabilities that will benefit the whole industry.”

The partnership will initially focus on subsurface digital solutions for reservoir engineering and geoscience modeling and interpretation, leveraging Delfi™ on-demand reservoir simulation (ODRS). These processes will be accelerated and automated using AI and real-world learnings from both companies.

“Through this digital partnership we will develop cutting-edge next-generation software, digital applications and new algorithms applied to geoscience. Thanks to these innovative modeling technologies, we will not only be better able to utilize the analyses of geological reservoirs and basins in the Oil & Gas sector to reduce emissions but also to make further progress in geological carbon storage,” said Namita Shah, President, OneTech at TotalEnergies.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “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, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’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 such a development changes), or should underlying assumptions prove incorrect, actual 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, and SLB 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/20240701494323/en/

Media

Moira Duff – Director of External Communications

SLB

Tel: +1 (713) 375-3407

media@slb.com

TotalEnergies Media Relations

+33 1 47 44 46 99

presse@totalenergies.com

Investors

James R. McDonald – Vice President of Investor Relations

Joy V. Domingo – Director of Investor Relations

SLB

Tel: +1 (713) 375-3535

investor-relations@slb.com

TotalEnergies Investor Relations

+33 1 47 44 46 46

ir@totalenergies.com

Source: SLB

FAQ

What is the significance of the SLB and TotalEnergies partnership announced in 2024?

The 10-year partnership between SLB and TotalEnergies aims to develop and deploy scalable digital solutions to enhance access to energy resources, improve performance, and increase efficiency.

What digital platform will SLB and TotalEnergies use in their new partnership?

SLB and TotalEnergies will use SLB’s Delfi™ digital platform, integrating it with advanced digital capabilities and adhering to the OSDU® Technical Standard.

Which areas will the SLB and TotalEnergies partnership initially focus on?

The partnership will initially focus on subsurface digital solutions for reservoir engineering and geoscience modeling, leveraging AI and real-world learnings.

How will the SLB and TotalEnergies partnership benefit the energy industry?

The partnership aims to address key challenges across the energy value chain, including carbon capture, utilization, and sequestration (CCUS), thus enhancing overall industry efficiency.