With the new product, customers will be able to perform advanced risk analysis on their assets with the intent of increasing asset reliability, reducing maintenance costs and turnaround time as well as boosting up-time, the partners said.
In addition, the new collaboration will help to streamline compliance reporting, moving away from a paper-based approach to an integrated digital one, with all asset data stored in a central, easily-accessible database. This will enable operators to instantly access insights on the condition of specific assets, at a micro or macro level, in the event of an incident or ahead of an audit, the partners said.
Martin Fingerhut, CEO from Metegrity said: “Asset integrity management is a critical element of successful operations but remains an area where many businesses are yet to digitalise. Working with ABB, we are now able to provide an end-to-end solution to customers to help them on their digital journey in a way that maximizes asset productivity and output.”
Troy Stewart, lead for ABB Energy Industries UK, commented: “The global pandemic has pushed industry to innovate like never before and automation, AI and machine learning is becoming increasingly critical in order to build and ensure resilience of infrastructure and operations.”
The MoU builds upon the success of their first project together with downstream operator MOL Group, announced in September 2020.
Stewart continued: “There is global demand for this within the process industries and our focus initially will be the rolling out of this solution to customers in the UK and beyond, before then exploring opportunities across other oil and gas, chemicals and power markets.”