ABB's Power Technology Subsea System, a reliable subsea energy supply, saves power and energy, decreases costs and schedule, and reduces pollution.
SAN ANTONIO, June 29, 2022 /PRNewswire/ -- Frost & Sullivan recently assessed the global oil and gas automation industry, and, based on its research results, recognizes ABB with the 2022 Global Oil and Gas Automation Technology Innovation Leadership Award. The company excels in innovating subsea systems and electrification services and provides underwater control solutions for offshore and submerged industrial systems, especially in the natural gas and oil sectors, thus leading the subsea systems automation market. ABB covers the unmet market need for subsea automation and stands out in the industry based on its uniqueness within the subsea field, without any suitable competitive service alternatives.
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ABB's subsea power distribution and conversion technology decreases power consumption considerably while lowering carbon emissions and using power from the shore to save energy. The company installs powering pumps and compressors on the seabed in locations nearer to reservoirs to facilitate power savings. The reliable subsea energy supply reaches up to 100 megawatts of power, covers up to 600 kilometers into the sea, and reaches 3,000 meters of water depth in extreme conditions and high pressure. As a result, oil and gas companies now have access to a dependable subsea energy supply for the first time. ABB's solution is like no other in the industry, in terms of reach (distance) and water depth levels, meeting the needs of specific applications and market segments. The company's capital expenditure (CAPEX) and operational expenditure (OPEX) advantages surpass those from competitors.
Maria Agustina de Sarriera, a Frost & Sullivan industry analyst, explained that "ABB's visionary and highly innovative solutions are technology advanced within the industry. The company has achieved transformational growth in the automation segment via its subsea technologies. The company has 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."
ABB's commitment to creativity is evident in its subsea technological systems' design. The company's technological experts have designed equipment that can withstand more extreme conditions than those present in space exploration. The company's subsea equipment complies with enduring reliability standards and can remain for about three decades in extreme water depths with little to no maintenance and without disintegrating. ABB has achieved an elevated level of technology development through remarkable dedication, expertise, perseverance, and intensive collaboration with a team of about 200 scientists in a multi-year joint effort. The company's commercialization success of its subsea services is based on its product uniqueness and exclusivity that come with fulfilling unmet market needs and the locations of reservoirs.
The ABB Adaptive Execution™ approach focuses on the integration of innovative technologies, qualified expert teams, collaborative knowledge, agile processes, and proven methodologies into a highly evolved end-to-end solution. The ABB Ability™ platform minimizes risk, reduces the cost of major capital projects (by up to 40%), startup work hours (by up to 40%), and schedule (by up to40%) and optimizes operational efficiency. With positive future growth prospects and constant improvements and innovation, ABB will continue to experience sustainable growth in the future.
"ABB demonstrates outstanding innovation and technology development with its subsea electrification systems. The company highly differentiates itself from its competitors in the oil and gas automation industry by providing a solution to satisfy a market need not covered previously by any other company," noted Sarriera.
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
ABB (Swiss:ABBN) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB's success is driven by about 105,000 talented employees in over 100 countries. www.abb.com
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SOURCE Frost & Sullivan