Today’s energy industry is characterised by new operating economic challenges, constant change, and the fusing of technologies. So, what is the way forward and is it manageable?
According to Lloyd’s Register (LR) at the Offshore Technology Conference (OTC) Houston 2019, the answer lies in a sharper focus on digital and technical expertise, and increasing interconnected knowledge networks.
“We are evolving our energy business in parallel with changing client needs and market demands,” says David Clark, Energy Director at LR. “The emerging recovery of the oil and gas industry and the more evident renewables sector provides new opportunities. We are helping our clients transition to new ways of thinking and to gain confidence in innovations that use the power of data and technology to drive excellence in efficiency and value,” says Clark. “It is widely accepted that excellence through digital and technical innovation can improve efficiency gains, increase operational performance and provide a better understanding of how to manage risk; a key theme for LR at OTC.”
LR’s strategy moves its portfolio away from markets that have become commoditised and the company is adopting an approach that leverages the depth of its technical expertise. “We are embracing digital and commercial innovation to provide business-focused solutions,” highlights Clark. “For our clients, this means we will be better placed to help them maximise efficiency gains, manage operational performance, control their cost base and improve how risk is managed.”
LR’s digital developments have an intrinsic role in the next chapter of America’s offshore and onshore industries, with presentations being provided to raise awareness on where industry’s innovation should focus:
Tuesday, May 7th
From 10 am: solutions for optimising your asset performance
How we helped a client map out their maintenance strategy to achieve $22m savings in OPEX
- LR AllAssets Maintenance Optimisation by Aden Hopkins:
Transform maintenance costs in to investments with safety and commercial returns
- IOWs by Vishal Lagad (LR and Youyu Lu (Shell):
Managing risk proactively with Integrity Operating Windows.
- Smart Sleeve by LR’s Alan Turner with Ryan Lavergne (Western Specialties LLC):
Detect and predict pipeline issues with fibre optic technology and data monitoring analytics
From 2 pm: using data to drive decisions
- Remote inspection by Frank van Bockel:
Apply digital technology for faster visual and remote inspection activities, saving time and money
- LR SecondSight by Clinton Abbate:
Turn visual data from multiple sources in to accessible, actionable decision-making information
- Maintenance “Data Mining” analytics by David Ryder:
Harness the power of asset maintenance data to extract previously hidden business insights
- FPSO Digital Twin by Vaibhav Parsoya:
Improve the structural health management and operation performance of offshore structures.
Wednesday, May 8th
From 10 am: secure and resilient operations
- Additive Manufacturing by Frank van Bockel:
Work towards a clear path to market for certified AM/3D printed parts
- SafetyScanner by David Ryder and Elena Prekopova:
Transform your HSE management with Artificial Intelligence (AI) to uncover hidden insights
- Cyber Security and Nettitude by Karen Bolton:
Helping companies realise their threats and secure their technology, people and processes.
LR believes the US industry can do more to increase its commercial innovation by improving collaboration across the energy industry. It is accelerating the development of new technologies through partnerships between industry and academia, which LR believes is important to help nurture collaboration and innovation.
The launch of Safety Accelerator is one example of LR’s approach; a challenge-based programme which solves some of safety and risk’s toughest challenges by creating, facilitating and guiding collaboration between innovative digital start-ups and industry.
LR will lead discussions on these insights at OTC Houston from 6 to 9 May 2019. Meet the experts at Booth # 3761 or go online at https://www.lr.org/en/events/otc-houston-2019/ for more information.
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