Digital Innovation: TotalEnergies to Partner with SLB for a more Sustainable Energy
TotalEnergies (TTE) and SLB have announced a collaboration to develop innovative subsurface digital solutions to enhance sustainable hydrocarbon production and support geological carbon storage. This partnership will leverage both companies' expertise in operational and software development to create next-generation cloud-based tools that improve subsurface modeling and optimize production with reduced carbon intensity.
Additionally, TotalEnergies will solarize SLB's industrial sites in Oman, UAE, and Japan, providing bespoke energy solutions to support SLB's energy transition. This initiative aligns with TotalEnergies' strategy of 'More energy, less emissions, more value,' aiming to make industrial operations more sustainable while delivering competitive cost benefits.
Both companies emphasize the importance of collaboration and knowledge sharing to advance digital capabilities and enhance efficiency in the energy sector.
- TotalEnergies and SLB to develop next-generation digital tools, enhancing hydrocarbon production efficiency.
- Collaboration focuses on reducing carbon intensity of existing fields and supporting geological carbon storage.
- TotalEnergies to solarize SLB's industrial sites in Oman, UAE, and Japan, promoting sustainable energy solutions.
- Partnership aligns with TotalEnergies' strategy of 'More energy, less emissions, more value.'
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Insights
The partnership between TotalEnergies and SLB represents a significant leap in the field of digital innovation for the energy sector. By developing next-generation software aimed at better modeling the subsurface, this collaboration could lead to more efficient and responsible hydrocarbon production. The focus on cloud-based tools and artificial intelligence (AI) for data analytics promises to enhance the accuracy and depth of subsurface modeling. This alignment with the goals of reducing carbon intensity and advancing geological carbon storage places the companies at the forefront of sustainable energy innovation. The use of AI can facilitate real-time data processing and predictive analytics, which are important for optimizing production and minimizing environmental impact.
This initiative also reflects broader industry trends toward digital transformation and sustainability. For investors, it’s important to note the potential scalability of these technologies across various fields, which can lead to improved operational efficiencies and lower emissions. The collaboration reinforces the long-term viability of both companies in a transitioning energy landscape.
The strategic alliance between TotalEnergies and SLB could have positive implications for their market positioning. By leveraging digital tools to optimize hydrocarbon production and implement carbon storage solutions, both companies are aligning with global sustainability trends and regulatory requirements. The bespoke solarization of SLB’s industrial sites, facilitated by TotalEnergies, not only underscores their commitment to clean energy but also provides a competitive edge through energy cost management and carbon footprint reduction.
For investors, this partnership can be seen as a proactive measure to future-proof the companies against the uncertainties of energy transition policies. It may also enhance their reputation among stakeholders who prioritize environmental, social and governance (ESG) criteria. The agreement's global scope, covering regions like Oman, the UAE and Japan, indicates a broad market impact and potential for diversified revenue streams.
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TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and SLB join forces to develop innovative subsurface digital solutions and contribute to a more sustainable hydrocarbon production and the implementation of TotalEnergies’ “More energy, less emissions, more value” strategy.
Digital innovation for a more sustainable energy
Combining their many years of operational expertise and their software development capabilities, the teams at TotalEnergies and SLB will jointly develop next-generation software available in the cloud.
These new digital tools will improve modeling of the subsurface to optimize production and make it more responsible. They will also leverage the potential of the data collected, through IA, for the purposes of reducing existing fields’ carbon intensity and meeting new needs in geological carbon storage.
The new software will build on the earlier efforts of both partners with Intersect, a latest-generation reservoir simulator.
Bespoke and competitive solarization of SLB’s industrial sites
TotalEnergies’ teams are also supporting SLB by solarizing its industrial sites worldwide, through agreements signed in
“We are delighted to develop our multi-energy partnerships with SLB through solarization of SLB’s industrial sites and digital innovation that will allow us to develop cutting-edge next-generation software, digital applications and new algorithms applied to geoscience. Thanks to these innovative modeling technologies, we will better utilize the analyses of geological reservoirs and basins in the Oil & Gas sector to reduce emissions and we will progress in geological carbon storage,” said Namita Shah, President, OneTech at TotalEnergies
“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.”
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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.
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.
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
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TotalEnergies
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
SLB
Media Relations: Moira Duff – Director of External Communications SLB
Tel: +1 (713) 375-3407 media@slb.com
Investor Relations: 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
Source: TOTALENERGIES SE
FAQ
What is the collaboration between TotalEnergies (TTE) and SLB about?
How will TotalEnergies (TTE) and SLB's partnership impact hydrocarbon production?
What are the benefits of solarizing SLB's industrial sites by TotalEnergies (TTE)?
How does the TotalEnergies (TTE) and SLB partnership align with TotalEnergies' strategy?
