A Robert Gordon University spin-out PlanSea Solutions is working on a software that could improve offshore oil and gas industry logistics in the UK North Sea, and save millions of pounds and cut CO2 emissions.
The project is backed by the Oil & Gas Technology Centre (OGTC) and project partners BP, CNOOC, and Equinor, the software company established in 2017, said.
"The project builds on preliminary work undertaken by RGU and the OGTC to assess existing vessel utilization 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 optimization software can make to reduce the sector’s CO2 emissions," PlanSea said.
PlanSea, the company focused on operational management control, fleet optimization, and vessel scheduling software for offshore oil and gas sector, has started the software development work after securing funding from the Oil & Gas Technology Centre (OGTC).
The marine logistics optimization 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 operationalized for application in the UKCS and internationally, PlanSea said, without providing details on how exactly and where the software would be deployed.
The OGTC funding will enable the software, optimization tools, and web applications to be developed in the next 12 months, the Aberdeen-based company said Tuesday.
PlanSea's co-founder and CEO Jim Cargill said: "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 utilization. With the support of industry partners BP, CNOOC International, and Equinor we are supporting PlanSea to develop a marine logistics optimization capability that has the potential to unlock significant value on the UKCS through improved offshore logistics.”