Emerson Electric Co. (NYSE:EMR) said Monday it entered a long-term strategic collaboration with Equinor ASA (NYSE:EQNR) to supply measurement technologies and services across the energy company’s global offshore and onshore operations.
The 13-year frame agreement, including options, will expand the companies’ existing automation partnership. It also supports Equinor’s efforts to improve production, reliability and efficiency across its energy assets.
Emerson Expands Equinor Automation Partnership
Under the agreement, Emerson will provide measurement instrumentation, analytical technologies and lifecycle services. The systems will help Equinor accelerate project development, extend field life and improve resource recovery.
In addition, the partnership aims to standardize operations across Equinor’s global assets. The companies will also work together on technology innovation and digital operations.
The agreement builds on more than 40 years of cooperation between Emerson and Equinor. Equinor already uses Emerson technology across several areas. These include subsea multiphase flow meters, downhole monitoring systems, valves, emissions management systems and control systems.
Deal Supports Equinor’s 2035 Goals
Emerson said the expanded partnership will support Equinor’s Norwegian Continental Shelf 2035 initiatives.
“Emerson has been a trusted technology supplier to Equinor for more than four decades,” Emerson Europe President Slawomir Suchomski said.
Suchomski said Emerson’s measurement technology will help Equinor optimize production and improve reliability. It will also support safe and efficient operations across the company’s global assets.
The companies said the collaboration strengthens their existing digitalization initiatives and focuses on improving long-term operational performance.
Price Action: Equinor shares were down 1.07% at $42.40 and Emerson Electric shares were up 0.22% at $157.61 during premarket trading on Monday, according to Benzinga Pro data.
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