Envana Software Solutions Signs Contract With Aker BP To Provide Digital Emissions Management
Houston, TX /PRNewswire/ - Envana Software Solutions, a joint venture between Halliburton and Siguler Guff, announced today that Aker BP, an independent E&P company with exploration, development and production activities on the Norwegian continental shelf, has contracted with Envana for its new Envana Catalyst product. Envana's product will help Aker BP forecast emissions related to well construction and production operations and track progress to reduce these emissions.
As recently announced, Envana is the newly formed $50 million joint venture between Halliburton and Siguler Guff, organized to provide critical emissions management software as a service (SaaS) solutions to track greenhouse gas emissions in the oil and gas industry and beyond.
The Aker BP contract marks Envana's second commercial agreement and is expected to further Aker BP's leading efforts related to the digitalization of field planning and well design workflows by including emissions forecasting. In doing so, costs and impacts relating to emissions can be proactively considered during planning, enabling better decisions. Envana will be integrated with Aker BP's ground-breaking deployment of its automated Field Development Planning and Digital Well Program®.
Envana Catalyst helps increase transparency of the environmental impact of drilling, completions, and production operations. It is designed to improve the visibility of greenhouse gas emissions tracking and forecasting companywide and can provide support for actionable recommendations throughout upstream asset life, from planning and design through execution. Envana Catalyst allows customers to choose the methodologies for modelling emissions and have available a library of emissions sources tailored to the oil and gas industry. With its documented API, Envana Catalyst can integrate with existing customer software to automate emissions forecasting and tracking, or users can model emissions using the Envana Catalyst interface.
"We are thrilled to sign this important contract with Aker BP," said Nagaraj Srinivasan, board member of Envana. "Aker BP has been a valuable partner in the development of our product Catalyst and I am excited at the opportunities ahead for Envana Catalyst to help Aker BP achieve their emissions management goals."
Tommy Sigmundstad, Senior Vice President Drilling and Wells at Aker BP, said, "Decarbonizing our business is a strategic priority in Aker BP and we continuously work to reduce our environmental footprint from our operations. Envana will bridge the gap between engineering, operations, and corporate, allowing the company to consider sustainability impact of the work while permitting us to maintain governance of the assumptions and methodologies used to model our emissions."
"Formalizing the commercial relationship with Aker BP is an important early accomplishment which demonstrates the value that Envana can provide for its customers. We're eager to provide this solution throughout the E&P industry and beyond," said PR Panigrahi, board member of Envana.
For more information, please attend Envana's presentation at the CERAWeek Innovation Agora on Wednesday March 8th at 3:30pm CT in Pod 5.
About Aker BP
Aker BP is a company engaged in exploration, field development and production of oil and gas on the Norwegian continental shelf. The company operates six assets: Alvheim, Ivar Aasen, Skarv, Edvard Grieg, Ula and Valhall, and is a partner in the Johan Sverdrup field.
Envana provides critical emissions management software-as-a-service (SaaS) solutions to track greenhouse gas emissions in the oil and gas industry and beyond. It is joint venture company formed by Halliburton and Siguler Guff, a leading multi-strategy private markets investment firm which has over $16 billion under management, estimated as of December 31, 2022. More information can be found at www.envana.com.
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