May 22, 2017 / 10:55 AM / 2 months ago

UPDATE 1-Statoil to invest up to $240 mln in digital technology by 2020

2 Min Read

(Adds CEO quotes)

May 22 (Reuters) - Statoil Asa

* Says establishing a digital centre of excellence and launching a roadmap with seven specific programmes for digitalisation in the company towards 2020

* Towards 2020 Statoil expects to invest NOK 1 billion-2 billion ($119.2 million-238.4 million) in new digital technologies, accelerating the digital roadmap work

* Statoil's CEO Eldar Saetre to Reuters: "This is about leaner operations in the future, about recovery (of oil and gas) from our reservoirs, about increasing probability of success of exploration and it's also about regularity or our operations. These components are the most important ones in terms of enhancing revenues."

* Saetre: "On the cost side, using data more efficiently will help to increase the quality of our maintenance which would increase the regularity, but also the safety."

* Saetre said the expected return on the planned measures would be "obviously" bigger than 1-2 billion crowns, but could not give any estimates, and largely will come from revenue side, not cost savings

* Saetre, however, said future oil installations will need fewer people to operate, partly due to remote control

* Saetre: "Future installations will be leaner. We will require more people to work on data, but in terms of physical operations of the platforms or drilling, you will see less people involved"

* Statoil's Valemon gas field, which started in 2015, is partly operated remotely, and Oseberg Vestflanken development expected to start in 2018 will be operated remotely

* From 2013 to early 2017, Statoil cut the number of permanent jobs at the company by around 3,000 to some 20,500 Source text: bit.ly/2rHhkwL Further company coverage: ($1 = 8.3902 Norwegian crowns) (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

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