Akselos secures digital twin funding
Published by Callum O'Reilly,
Tanks and Terminals,
Akselos has announced that it has secured funding from technology accelerator, the Oil and Gas Technology Centre (The OGTC), to advance R&D into digital twin technology for the oil and gas industry.
Developed for the operation of any large-scale asset, Akselos’ software will generate digital twins of pressure vessels in order to produce more accurate predictions for maintenance and inspection - including where and when repairs will be needed. By combining this with robotics inspections, it will allow accurate validation of the structural integrity and fitness for service, making the repair process more efficient.
Akselos estimates that the digital twin software could support a reduction in inspection and maintenance costs, as well as a 25% reduction in equipment downtime. Combining this solution with robotic inspections could result in a 45% maintenance cost reduction and 25% reduction in equipment downtime.
The project aligns with the OGTC’s Asset Integrity Solutions Centre, which is focused on accelerating technology solutions for improving process vessel inspection, increasing production by up to £157 million per year (at £50/bbl oil price).
John Bell, Vice President of Akselos, said: “The OGTC is of crucial importance to the future of the UKCS. This partnership will consolidate our efforts to bring value to the UK oil and gas industry with world-class emerging digital technology. We look forward to collaborating with the asset integrity team at the OGTC to address these significant challenges for operators.”
Rebecca Allison, Asset Integrity Solution Centre Manager, the Oil & Gas Technology Centre, added: “We are delighted to support Akselos with the development of this technology. Digital twin software will speed up data analysis, testing ‘what if’ scenarios to optimise future inspection programmes and allow for improved shut down planning.
“This approach ties in perfectly with the focus on robotics and automation, harnessing the power of data and technology to improve overall asset efficiency.”
The project is due to commence immediately, and with data and outcomes made available when the project finishes in June.
Read the article online at: https://www.tanksterminals.com/terminals/28022019/akselos-secures-digital-twin-funding/
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