Aberdeen Firm Launches Innovative Asset Management Tool That Could Save Companies Millions Of Pounds In Maintenance
Aberdeen-headquartered asset integrity management firm IMRANDD is set to launch Advanced Inspection Data Analytics (AIDA), a tool which has the potential to save companies upwards of 20% a year in inspection costs per asset and several million dollars from unplanned outages (even preventing one days outage could save upwards $1m).
On a typical mature North Sea installation, hundreds of thousands of wall thickness readings will have been gathered at a cost of millions of pounds to the operator, and distinguishing the “good” from the “bad” data – and how to interpret and apply it – is crucial to operating an asset safely, efficiently and profitably.
Weeding out that bad data has previously been a manual task of such magnitude it has been seen as impossible to achieve and has led to potentially valuable data being ignored or dismissed. However, IMRANDD has addressed this industry-wide challenge by developing AIDA, software that can extract, analyse, cleanse and improve the accuracy of gathered wall thickness data, of any age, and in any format.
With proven capability to analyse the same quantity of data in 30 days that would take two years of engineering work using current methods, AIDA processes the reams of legacy data attached to mature North Sea assets to give reliable, trendable and actionable information.
AIDA’s unique models and algorithms determine threat levels, predict imminent failures and provide accurate corrosion and remaining life assessments. This allows for more efficient resource allocation for offshore assets, resulting in better controlled risk and degradation while maintaining business profitability.
Commenting on the upcoming launch at Offshore Europe, IMRANDD Managing Director Innes Auchterlonie said: “I’m pleased to announce the launch of our new inspection data analytics tool. We could clearly see the limitations of working with vast amounts of legacy data and concerns around its quality. These difficulties often meant safety critical, operational and business decisions were being made with limited information, AIDA tackles these issues to give a far greater understanding of asset degradation and integrity risk.
“We’ve combined our team’s engineering expertise, tactical implementation and commercial understanding to bring new capabilities into the integrity space, which will allow us to achieve improved asset integrity management for all our clients. This then enables our clients to improve the overall efficiency and safety of their offshore assets.”
The launch of AIDA comes during a time of increased growth for IMRANDD and is expected to boost turnover by another 50%. Since its inception in 2016, the company has doubled in size year on year, with the headcount rising from just six employees to 40 in three years. Having footholds in West Africa and the Middle East, IMRANDD will continue its expansion by capitalising on the inroads it has made across these regions.
