AVEVA and Petrofac Enter MoU to Accelerate Digital Initiatives for the Energy Industry

AVEVA has signed a memorandum of understanding (MoU) with Petrofac. The new agreement will see AVEVA cooperate with Petrofac towards:

• Digital transformation of the end-to-end supply chain system process, including engineering cataloging, procurement, site material control and construction planning
• Supporting the delivery of Petrofac’s net-zero targets using AVEVA’s sustainable engineering solutions

The plan includes, cooperation kick-off, design thinking sessions for new solutions and use cases, technical assessments, an execution strategy and more.

George Eapen, Group CIO, Petrofac said: “Petrofac and AVEVA have a long-standing relationship and we are very happy to partner with them to build on to our multi-year digital transformation strategy. As part of our agreement, we will build digital capabilities internally and for our customers that are aligned to Petrofac’s environmental, social and governance (ESG) and sustainability agendas.”

Caspar Herzberg, CEO, AVEVA said: “AVEVA’s solutions drive measurable emission reductions across scopes 1, 2 and 3, helping industrial companies to meet climate commitments aligned to the Paris Agreement. We are delighted to be able to support Petrofac in accelerating the energy transition for their customers, by deriving data-led insights that unlock more efficient ways of working and drive responsible use of our world’s resources.”

Under the MoU, Petrofac will also explore the deployment of AVEVA Enterprise Resource Management (ERM) and AVEVA Process Simulation in its engineering delivery services, while replacing legacy inhouse and third-party solutions. The new AVEVA solutions will provide Petrofac with value chain visibility and secure audit trails for tracking material procurement, minimising waste and ensuring regulatory compliance.

AVEVA’s pioneering software integrates with existing systems to transform siloed supply chains, enabling companies to execute sustainable projects by optimising resources, reducing material and shipping waste, and delivering efficiency and optimisation gains.