Leading the way in subsea automation with its underwater control systems and electrification services, ABB received Frost & Sullivan’s 2022 Best Practices Award for Global Oil and Gas Automation Technology Innovation Leadership.
ABB was commended for the development and commercialisation of its subsea power conversion and distribution system. Its technology gives oil and gas companies access to a reliable subsea energy supply of up to 100 megawatts of power over distances up to 600 kilometres into the sea and 3,000 meters of water depth with little maintenance required despite operating at intense pressures and in extreme conditions.
María Agustina de Sarriera, Frost & Sullivan oil and gas analyst, said, “ABB’s visionary and highly innovative solutions are technology advanced within the industry. The company achieved transformational growth in the automation segment via its subsea technologies. It invested in research, design, and development over many years in collaboration with Chevron, Equinor, and Total Energies to develop this innovative power technology subsea system – investing about $100 million over the years.”
Brandon Spencer, president of ABB Energy Industries, commented, “The convergence of automation and electrification is key to reducing carbon emissions in the oil and gas sector. By powering pumps and compressors on the seabed, close to the reservoir, our technology can significantly reduce energy consumption as well as decrease carbon emissions by using power from shore. It has taken years and the dedication of around 200 scientists and engineers from ABB and our partners to make this a reality, and it is fantastic that Frost & Sullivan has recognised our collective achievement and leading technology through this award.”
Assessed by Frost & Sullivan’s global team of Growth Pipeline experts, the Best Practices Award identifies and assesses companies that consistently develop growth strategies based on a visionary understanding of the future and how to effectively address new challenges and opportunities.
Frost & Sullivan also congratulated ABB on securing the $120 million project with Chevron Australia and Aker Solutions to engage in power provision from shore and subsea out to the Jansz-Io field.
The company’s approach to optimising operational efficiency was also commended, with special mention made of its capital projects and execution methodology – Adaptive Execution. With digitalisation and collaboration at its core, Adaptive Execution was developed to drive greenfield project efficiency. By integrating expert teams, innovative technologies, agile processes, collaborative knowledge, and proven methodologies, it can deliver automation-related CAPEX savings between 15 percent and 40 percent, reduce start-up work hours by up to 40 percent, and compress schedules by up to 40 percent.
Frost & Sullivan Best Practices Awards recognise companies that have developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognises the quality of the solution and the customer value enhancements it enables.