Data Analytics & Visualisation
Complimenting the data extraction project and to fully support a holistic risk-based integrity decision tool. Imrandd are also proposing to develop a revolutionary data analytics and visualisation platform. This platform will correlate and analyse internal and external degradation as well as process conditions including barrier status to give a complete overview of the integrity status of an asset in real time.
At a high level, it is possible to summarise the value to operator from the advanced analytics and visualisation proposed in this project (based on proof of concept work) as a 50% reduction in year on year expenditure associated with the onshore engineering costs of managing asset integrity and maintenance.
On average each asset spends £1M per annum on onshore engineering costs arising from a combination of routine activities including RBI assessments, reviewing of inspection data as well as assessment of anomalies. By eliminating the need to manually collate and ingest the data it is estimated that the value impact to an asset will be in the region of £500k per annum with an overall cost saving to the UKCS of circa £25M (based on a 20% adoption rate).
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