OMV and Cognite Extend Long-Term Collaboration to Further Accelerate OMV’s Digitalization Transformation Program
OSLO, NORWAY & AUSTIN, TEXAS--(Business Wire / Korea Newswire) March 08, 2023 -- Cognite, a global leader in industrial software, today announced an extension of its long-term frame agreement with OMV, the international, integrated oil, gas, and chemicals company headquartered in Vienna/Austria. Leveraging Cognite‘s leading Industrial DataOps platform, Cognite Data Fusion®, OMV will expand its digital transformation program, DigitUP, to also include a more robust Asset Performance Management (APM) solution, strengthening OMV’s position as a global digital leader in the industry.
The collaboration will accelerate OMV's digital transformation and drive operational improvements that make the organization more effective and unlock data-driven business opportunities along the entire value chain.
Cognite Data Fusion® is an integrated part of OMV's enterprise architecture, and the platform is used to liberate and consolidate data of surface data domains. OMV has built several use cases and applications on top of this liberated data and can now easily scale up to physical assets. Cognite Data Fusion® is key to contextualizing data across OMV’s ecosystem to accelerate the development and adoption of digital applications.
Cognite Data Fusion® powers OMV's surface data hub and enables rapid scaling of digital solutions across assets in Austria, New Zealand, and Romania. The OMV and Cognite collaboration thus far has resulted in the deployment of solutions within both production and maintenance optimization leading to a reduction of time needed to plan the inspections by 50% and 6% deferment savings on production.
In the next phase of this long-term agreement, OMV will expand its APM capabilities to include integrity management, as well as integration with computerized maintenance management systems for integrated activity planning across different operations disciplines. This expansion of DigitUP will empower users in maintenance, inspection, operations, and sustainability roles with a robust suite of digital solutions to support their decision-making, reduce costs, and maximize asset performance.
“We are excited for the next phase of our collaboration with OMV. As asset performance management evolves from pure maintenance to a more holistic look at an operation's reliability and sustainability, the complexity of data, analysis, and digital solutions to support it also grows. OMV is tackling this challenge head-on, and we are proud to support their continued commitment to being a leader in digitalization in the industry,” says Dr. John Markus Lervik, co-founder and Chief Strategy & Development Officer, Cognite.
Learn more about how OMV uses Cognite Data Fusion® as the foundation for its digital transformation strategy here: https://www.cognite.com/en/customer-stories/omv-uses-data-from-cognite-data-fusion-to-reduce-inspection-time-and-deferments
With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV, through its subsidiary Borealis, is one of the world‘s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures - Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) - Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,800 filling stations in ten European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire gas business.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.
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.
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