Equinor Collaborates with TCS to Accelerate its Transformation into a Digital Energy Company.
Tata Consultancy Services Will Help Equinor Achieve Data Democratization, and Leverage Advanced Analytics to Drive Superior Outcomes in Core Operations and Sustainability
Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has been selected as a strategic partner by Equinor, the Norway-headquartered global energy company, to accelerate its digitalization journey and help realize its vision of becoming a digital energy company.
TCS will leverage its deep domain knowledge of the energy sector, expertise and scale in digital technologies and investments in research and innovation, to achieve data democratization across Equinor's core operations and harness the power of machine learning and advanced analytics to help Equinor achieve its growth and transformation objectives.
An initial focus area will be sub-surface data and analytics, where TCS will work with Equinor's teams to make available high-quality datasets anywhere, anytime, to different stakeholders, by populating Equinor's sub-surface data lake. This will act as a single source of truth for all subsurface data within the enterprise. Insights derived using machine learning and advanced analytics will enable Equinor to accelerate a more data driven approach to key business areas such as exploration, field development, and operations, to improve hydrocarbon recovery rates and reduce extraction costs.
TCS will also help Equinor leverage data better in the area of safety, security and sustainability, to drive superior outcomes by correlating various safety reports and datasets, identifying relevant patterns and trends to predict and prevent incidents, and help improve its safety and sustainability outcomes.
TCS will use its proprietary DATOM framework to assess data maturity levels, identify gaps, develop a roadmap to simplify operating models, set up data governance models, and build technology patterns and architectures to help Equinor fully leverage data and analytics to drive superior business outcomes. Additionally, TCS will use its Location Independent Agile model to deploy innovative ways of working that will help enhance speed to market, while helping align outcomes closely with business objectives.
'Enterprises are increasingly realizing that the first step in a successful digital transformation journey is to become a data-driven organization. Data and analytics are today central to enterprises' ability to discover new value creation opportunities, and are becoming core to the enterprise operating model,' said Dinanath Kholkar, Global Head, Analytics and Insights, TCS. 'TCS is proud to partner with Equinor to create a strong data and analytics foundation, leveraging its capabilities in advanced analytics and AI solutions, and help accelerate their insights-driven transformation journey to become a digital energy company.'
Equinor is a broad energy company with a proud history. We are 21,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We're the largest operator in Norway, one of the world's largest offshore operators, and a growing force in renewables. Driven by our dedication to safety, equality and sustainability and our Nordic urge to explore beyond the horizon, we're shaping the future of energy.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
In the Energy and Resources domain, TCS caters to the technology, transformation, and innovation needs of some of the world's leading corporations in the oil & gas, oil field services, zero carbon energy, metals, mining and epc industries. With its deep domain knowledge, a comprehensive portfolio of services, and industry-focused centers of excellence, it has been helping customers adopt cross-industry best practices, accelerate innovation and embrace new business models for growth and a sustainable future.
A part of the Tata group, India's largest multinational business group, TCS has over 453,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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