With the imperative for energy security front and center, asset operators are faced with the challenge to increase production of critical resources while also under pressure to decarbonize, digitalize and reduce operating costs.
Wood.
What is the biggest roadblock in trying to deliver decarbonized, digitalized and efficient operations? Capacity.
Wood’s market-leading digital maintenance product, maintAI, enables predictive maintenance for operational sites to deliver a 30% reduction in maintenance efforts and a 20% reduction in operating costs while increasing production efficiency by 10%.
maintAI enables operators to utilize existing data to optimize their maintenance and perform the right work at the right time — ultimately unlocking capacity to deliver more efficient and effective operations.
Future-ready maintenance
maintAI has four key components: preventive maintenance optimization, backlog optimization, spares optimization and predictive maintenance. Together they unlock asset data to target specific maintenance issues to improve asset reliability, release capacity back to the site operational teams, lower emissions and reduce operating expenditure while maintaining a safe execution environment.
"maintAI provides real-time updates on strategy, equipment maintenance and backlog improvement suggestions," Stephen Kelman, Wood operations director, based in Houston, said. "This unique approach allows operators to make decisions based on live data while simultaneously developing an improvement roadmap to achieve performance targets."
Delivering measurable benefits
Wood has optimized equipment maintenance and reliability for asset-intensive industries for 25 years. Pioneers of equipment condition monitoring, the company has collaborated closely with its long-term clients to build predictive maintenance software to troubleshoot critical operational challenges.
Wood is deploying maintAI for its clients globally, including several large-scale operators, realizing significant operating expenses or expenditure (OPEX) reductions:
- bp saw 30,000 hours removed from its maintenance backlog, immediately reducing the volume of mobilizations required for site surveys by 50%.
- Another operator has seen a 28% reduction in annualized maintenance across an offshore portfolio.
- An additional client has benefited from a 42% reduction in inventory.
Across the U.S. Gulf Coast, maintAI is already deployed and enabling dynamic, interactive surveillance reporting for rotating equipment for an operator across nine sites.
Outcome-based commercial innovation
Wood’s unique approach draws on theoretical and practical knowledge by combining site-based execution expertise and intelligent, solution-focused toolsets to identify OPEX-reducing solutions across maintenance, plant reliability and spares utilization.
"maintAI is outcome-focused and designed with the client in mind, with commercial models determined by the value generated— not the hours expended," Kelman said.
"This innovative approach offers an initial discovery phase to identify the opportunities for savings," he added. "Completion of a full project is within 12-16 weeks, after which operators can see tangible results from their optimized maintenance portfolio."
As operators look to transform, maintAI will enable impactful predictive maintenance at scale, helping to digitalize and decarbonize operations and move the world closer to a net zero future.
Please reach out for more information about maintAI and how it can support your asset optimization journey.
For more information, visit woodplc.com, call Stephen Kelman at (337) 205-1711 or email at stephen.kelman2@woodplc.com.
