Wood and Harbour Energy agree new $330m strategic partnership
Wood has secured contract wins with major UK operators for its digital maintenance optimisation solution, maintAI.
Combining artificial intelligence, technical expertise, and decades of asset knowledge, maintAI utilises existing client data to optimise maintenance backlog at pace and in turn reduce asset operating costs by up to 20%. In the UK, 67,000 hours of maintenance backlog has been removed for one major operator, as well as a £270million inventory saving across the client's assets.
An energy company in the UK is extending an existing maintAI contract with Wood to include additional offshore platforms following successful deployment at their onshore hub, where maintAI has removed over 15,000 hours of maintenance work. The 2-year contract extension will enable additional maintenance optimisation activity in tandem with planned shutdowns.
They are Wood’s first UK client to utilise the maintAI subscription model, which ensures that data is repeatedly revised and revalidated throughout the project lifecycle to deliver accurate and continuously enhanced information for improved decision making.
Similarly, Wood is utilising the technology to support a global operator deliver their maintenance improvement plans, optimising over 500,000 hours of maintenance across three North Sea assets as well as their onshore gas terminal. In addition, maintAI will help release capacity to reduce current maintenance activity backlogs.
Ellis Renforth, President of Operations, EMEA at Wood said: “Today, asset owners are being challenged to significantly reduce their maintenance backlog, whilst improving production and lowering emissions.
“Wood’s maintAI solution can reduce annualised maintenance efforts by 30%, and operating costs by 20% at pace, assuring production reliability at the same time, a potential gamechanger against the current challenging market backdrop.”