Shell sells engineering software rights to Aveva
- Business & Finance
Aveva, a provider of engineering data and design IT systems for the oil and gas industry, has acquired the intellectual property rights to Shell’s EDD and PDMSi software.
Aveva said on Thursday that the EDD and PDMSi engineering design database and design productivity software was developed by Shell International Exploration and Production Inc., a member of the Royal Dutch Shell.
The EDD solution tool has been developed to improve project efficiency by automating design processes that would lead to time and cost savings. The PDMSi application layer can reduce drawing production time by up to 85 percent on past Shell deepwater projects.
Bert Natalicchio, VP of engineering & SMART at Shell, said: “Collaboration between world-class companies is crucial if we are to drive innovation in the oil and gas sector and create a safer and more efficient industry. Aveva’s entire software portfolio can be used by EPCs on Shell Capital and Operational projects and may be used within the Shell ProjectVantage ecosystem platform.”
Aveva will extend the EDD and PDMSi improvements and efficiency gains into its standard software portfolio to be made available to every plant operator and the engineering, procurement and contracting (EPC) companies that serve them. This software is applicable across several engineering industries including oil and gas and marine to pharmaceuticals, chemicals, power, mining and pulp and paper.
Aveva added that for every physical asset, there should be a digital asset or digital twin. Such digital twins help improve the concerned assets operating efficiency by improving data quality and consistency throughout the asset lifecycle.
Steen Lomholt-Thomsen, chief revenue officer for Aveva, said: “Aveva has enjoyed a strong business relationship with Shell. The majority of Shell’s upstream offshore and downstream operating assets were designed using Aveva technology. Now, we are building on our strong foundations of proven project success and increased operational efficiency by extending our shared capabilities further still.”
“The advances achieved by Shell in utilizing EDD and PDMSi may now be offered to other operators who want to explore how digitalization can help their teams operate efficiently,” the company said.