Wood applies AI to cut North Sea operators’ maintenance costs

Sept. 14, 2023
Wood has won contracts from various major UK offshore operators for its digital maintenance optimization service, maintAI.

Offshore staff

ABERDEEN, UK – Wood has won contracts from various major UK offshore operators for its digital maintenance optimization service, maintAI.

This applies artificial intelligence and other techniques to the operators’ existing data to optimize their maintenance backlogs, helping to reduce asset operating costs by up to 20%, Wood claimed.

For one operator, it added, the service had removed 67,000 hours of maintenance backlog and achieved a £270-million ($336-million) inventory saving across the company’s assets.

Another UK operator is extending an existing maintAI contract to cover additional offshore platforms following a deployment at an onshore hub, where maintAI has removed over 15,000 hr of maintenance work. The two-year extension should allow for further maintenance optimization in tandem with planned shutdowns.

Wood’s maintAI subscription model is said to ensure that data is repeatedly revised and revalidated throughout the project lifecycle to provide accurate and continuously enhanced information for decision taking.

In addition, the company is applying the technology to help another operator implement maintenance improvement plans, optimizing over 500,000 hr at three North Sea assets and at an onshore gas terminal.

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.

“MaintAI can reduce annualized 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.”

09.23.2023