We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Norwegian Equinor to take a stake in Bill Gates-backed Kobold Metals

GO DIGITAL OIL & GAS

Norwegian Equinor to take a stake in Bill Gates-backed Kobold Metals

Equinor, the Norwegian state-backed energy company, will take a stake in San Francisco-based start-up Kobold Metals that already counts Bill Gates as an investor, Currency.com reports.

Kobold Metals was founded less than two years ago and aims to digitally map the Earth’s crust. The company collects multiple data streams from old drill reports and the latest satellite imagery and analyses them using artificial intelligence and machine learning.

The exact size of Equinor’s investment is currently unclear; however, the company is expected to have a stake of about 10%. The company hopes to transfer Kobold’s technological cutting edge to the discovery of new oil and gas sources.

Data science and analytics applied to big subsurface data will be increasingly important for low-carbon and low-cost oil and gas discoveries.

Lisa Rebora, senior vice-president of exploration, Equinor

The start-up's chief executive Kurt House said that Kobold’s technology “is in many respects commodity independent. The database can be applied to any commodity.”

Relevant news

GO NET-ZERO
ENERGY SUMMIT
Equinor plans to reduce net carbon intensity by at least 50% by 2050
Equinor plans to reduce the net carbon intensity, from initial production to final consumption, of energy produced by at least 50% by 2050.
GO NET-ZERO
ENERGY SUMMIT
Equinor, Shell part of a new group preparing ocean renewables plan
Equinor and Orsted will lead a new group formed to tackle climate change by accelerating the deployment of offshore renewable energy technology
GO NET-ZERO
ENERGY SUMMIT
Equinor to cut emissions in Norway by 40%
This would potentially allow the country to keep pumping crude even as it works to meet international climate obligations