GE’s Measurement & Control business and Meridium®, Inc. is to introduce Production Asset Reliability (PAR), an integrated asset performance management (APM) offering for an all in one view of equipment health at the GE Oil & Gas annual stakeholder meeting in Florence, Italy. Combining GE Measurement & Control’s System 1 condition monitoring and diagnostic applications with Meridium’s suit of enterprise performance management and asset strategy solutions, PAR provides a holistic and quantifiable view of operations, maintenance, availability and overall operating performance production assets.
System 1, GE’s patented condition monitoring software, helps users quickly diagnose potential equipment and instrument health issues which can lead to equipment failure. Meridium’s applications provide structures processes and analytics to identify critical assets and failure modes, calculate equipment reliability and determine downtime impacts. The integrated PAR solution provides an end to end process that connects the machine diagnostics to the business context and execution to drive optimised maintenance practices and production loss management for all asset intensive industries.
Asset intensive organisations are challenged to maximise production, minimise costs, follow regulations and manage risk. To balance the demanding requirements, operators require a more cohesive system that assesses equipment performance and manages resulting data. GE and Meridium provide this comprehensive solution for customers to effectively measure, monitor and manage each connected asset.
The Oil & Gas industry demand solutions that can grow with business demand and adapt rapidly to changing technical environments. That is why GE's industrial solutions such as System 1 are standardising on GE's modern software platform for the Industrial Internet, Predix.
Adapted from a press release by Emma McAleavey.
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