Innovative software to bring cost and environmental benefits to the oil and gas sector
Innovative new artificial intelligence-based software with the potential to streamline oil and gas industry logistics in the North Sea, saving millions of pounds and reducing CO2 emissions, is now under development.
Aberdeen based company PlanSea Solutions Limited (PlanSea), a spin-out from Robert Gordon University (RGU), is developing this software after securing funding from the Oil & Gas Technology Centre (OGTC).
The project builds on preliminary work undertaken by RGU and the OGTC to assess existing vessel utilisation and efficiency in the UKCS. The study highlighted potential cost savings of up to 25% on an annual industry spend of over £300 million and identified the contribution optimisation software can make to reduce the sector’s CO2 emissions.
The marine logistics optimisation and efficiency software development is being undertaken in partnership with BP, CNOOC International and Equinor, ensuring the project is industry-led and that the software can be operationalised for application in the UKCS and internationally. The OGTC funding will enable the software, optimisation tools and web applications to be developed in the next 12 months.
The project will leverage existing optimisation algorithms and software tools developed by RGU, which have already been successfully applied onshore in the telecommunications and haulage sectors.
PlanSea is led by co-founder and CEO Jim Cargill. Mr Cargill commented: “Innovation and new technology has a key part to play in the next chapter of our industry’s future so we are pleased to have secured funding for this important cutting-edge technology which promises to save money and contribute towards Net-Zero.
“The partnership with BP, CNOOC International, Equinor and the OGTC is a great example of industry collaboration and will be critical in turning this innovative and transformational concept into a set of powerful tools for the industry.”
“The technology has the potential to unlock material value for the industry and to significantly improve offshore logistics both in the UKCS and overseas. We are delighted to be working with the OGTC and our operator partners to deliver this important project for the sector.”
Stephen Ashley, Digital Transformation Solution Centre Manager at the OGTC, added: “The OGTC has a key focus on the digital supply chain. From the outset, we have been looking at how the industry can improve the efficiency, particularly vessel utilisation. With the support of industry partners BP, CNOOC International and Equinor we are supporting PlanSea to develop a marine logistics optimisation capability which has the potential to unlock significant value on the UKCS through improved offshore logistics.”
Notes to editors
About PlanSea Solutions Limited (PSS):
PSS is a spin-out company from Robert Gordon University and holds the exclusive licence for the offshore vessel optimisation algorithms. PSS was established in 2017 specifically to focus on providing operational management control, fleet optimisation and vessel scheduling software for the offshore oil and gas marine support sector both in the UK and internationally.