Software company that helps BW Energy manage CO2 emissions from new oilfield developments

Oslo Stock Exchange-listed oil and gas E&P company BW Energy has engaged the services of Swedish cloud enterprise software development company IFS to support its growth strategy, achieve operational efficiencies and limit emissions, while supporting the development of to advance low-carbon oil fields in line with its energy transition goals.

IFS announced on Tuesday that BW Energy has chosen IFS applications Enterprise resource planning (ERP) and enterprise asset management (EAM) software to support its global oilfield production and development strategy.

Knut R. SaethreCFO of BW Energy, noted: “We are focused on developing proven global offshore oil and gas resources but utilizing existing infrastructure, resulting in lower development costs, faster project delivery and reduced carbon emissions. Powered by IFS technology, our Strategy enables low-carbon field developments that support the ongoing transition.”

According to the Swedish company, the implementation of its software will enable BW Energy to drive global enterprise-wide efficiencies across multiple business functions, from asset management and supply chain to human capital management (HCM) and finance. The operator oil and gas company will use this software to replicate data between offshore entities and onshore offices, says IFS.

“IFS’ expertise in the oil and gas industry is reflected in the rich and critical functionality of the software. Its ability to support multiple business activities, along with the ERP and EAM capabilities, helps us achieve our multiple goals quickly and efficiently, and gives us the agility we need to operate in a rapidly changing market and regulatory environment to navigate.” added Sæthre.

In addition, the IFS solution is expected to help BW Energy manage carbon emissions – as it develops new oil fields – and improve maintenance of its offshore production assets. Accordingly, the software aims to support BW Energy in planning, scheduling and delivering maintenance activities in advance and allow the company to make changes quickly and easily.

Elni KullmerRegional President for Northern and Central Europe, IFS said: “IFS solutions are designed to provide fast-growing companies like BW Energy with a straightforward way to become more data-driven and improve innovation. BW Energy is committed to developing oil and natural gas fields in an efficient and low-carbon manner and supporting the energy transition, and we are proud to work with them to help them on their journey.”

Initially, BW Energy is expected to deploy IFS Applications across its US hubs and assets US, Norway, Brazil, West Africa and Singapore, other websites will follow in the future. The main BW Energy-operated assets in the company’s portfolio account for 73.5 percent of production Dussafu Marine Permit Offshore Gabon and a 95 percent interest in the Maromba field in Brasil. The company’s total net 2P+2C reserves as of early 2022 were 241 million barrels.

Regarding BW Energy’s recent activities in Gabon, the company confirmed earlier this month that it remains on track to first oil out of its country Hibiscus/Ruche development will depart from Gabon later this year, despite delays due to the pandemic and the current geopolitical crisis, exacerbated by Russia’s attack on Ukraine.

However, BW Energy confirmed that there is still an increased risk of delays due to price inflation in services and materials.

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