ABB in the UK has signed a Memorandum of Understanding (MoU) with asset integrity management business Metegrity to bring a new solution to market that will tackle asset downtime by optimising asset strategy and increasing visibility of equipment performance in real time to better manage operations and interventions.
Combining ABB’s deep domain expertise, data analytics and industrial artificial intelligence (AI) capability with Metegrity’s asset integrity management and risk-based inspection software, customers will be able to perform advanced risk analysis on their assets with the intent of increasing asset reliability, reducing maintenance costs and turnaround time as well as boosting up-time.
The new collaboration will also streamline compliance reporting, moving away from a traditional paper-based approach or fragmented systems to an integrated digital one, with all asset data stored in a central, easily accessible database for a single source of truth. This will enable operators to instantly access insights on the condition of specific assets, at a micro or macro level, in the event of an incident or ahead of an audit.
Martin Fingerhut, CEO from Metegrity said: “Asset integrity management is a critical element of successful operations but remains an area where many businesses are yet to digitalise. Working with ABB, we are now able to provide an end-to-end solution to customers to help them on their digital journey in a way that maximises asset productivity and output.”
Troy Stewart, lead for ABB Energy Industries UK, commented: “The global pandemic has pushed industry to innovate like never before and automation, AI and machine learning is becoming increasingly critical in order to build and ensure resilience of infrastructure and operations.”
The MoU builds upon the success of the companies’ first project together with downstream operator MOL Group, announced last September. The new relationship is particularly well suited for midstream and downstream operations, where companies can increase operating cash flow by making the most of their valuable assets.
Stewart continued: “There is global demand for this within the process industries and our focus initially will be the rolling out of this solution to customers in the UK and beyond, before then exploring opportunities across other oil and gas, chemicals and power markets.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/13052021/abb-and-metegrity-ink-mou/