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

Agreement will see both companies collaborate to explore opportunities of digitally led innovations for the benefit of the energy industry

Mumbai, India, 6 April 2023 – AVEVA, a global leader in industrial software driving innovation and sustainability, has signed a memorandum of understanding (MoU) with Petrofac, a leading provider of services to the global energy industry.  

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, minimizing 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 optimizing resources, reducing material and shipping waste, and delivering efficiency and optimization gains.  

-ENDS-

About Petrofac

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.

Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values - driven, agile, respectful and open - are at the heart of everything we do.

Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 8,000 employees based across 31 offices globally.

Petrofac is quoted on the London Stock Exchange (symbol: PFC). For additional information, please refer to the Petrofac website at www.petrofac.com

About AVEVA

AVEVA is a global leader in industrial software, sparking ingenuity to drive responsible use of the world’s resources. The company’s secure industrial cloud platform and applications enable businesses to harness the power of their information and improve collaboration with customers, suppliers and partners.

Over 20,000 enterprises in over 100 countries rely on AVEVA to help them deliver life’s essentials: safe and reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA enables teams to engineer efficiently and optimize operations, driving growth and sustainability.

Named as one of the world’s most innovative companies, AVEVA supports customers with open solutions and the expertise of more than 6,400 employees, 5,000 partners and 5,700 certified developers. With operations around the globe, we are headquartered in Cambridge, UK. Learn more at www.aveva.com