In partnership with QiO Technologies, Penspen has developed THEIA as an environment for pipeline operators around the world to access Penspen’s expertise in defect assessment and asset integrity management.
The new project is part of Penspen’s ongoing commitment to the digital transformation of its services.
THEIA combines Penspen’s technical expertise, industry knowledge and quality assurance skills with QiO Foresight Maintenance technology to provide a complete picture of pipeline assets under a range of different environmental and operational scenarios.
“There is no secret about the challenges we face in the energy industry,” explained Peter O’Sullivan, CEO of Penspen. “Ageing pipeline assets mean greater risks which are in turn set against a background of industry-wide cost reductions and increased regulatory demands.
“Furthermore, loss of skills and a dearth of new talent mean personnel resources for the time-consuming analysis of inspection data are limited. THEIA responds to all these constraints by empowering operators to make critical and timely decisions for the optimum management of their pipelines.”
According to Penspen, the ability to harness predictive data analytics will help customers to get future insights into how best to manage pipeline integrity alongside lifecycle technical assurance.
“The more operators use THEIA in tandem with our expertise at Penspen, it’s more likely that defects will be quickly identified and prevented from causing failure,” added O’Sullivan.
THEIA is a cloud-based, subscription service that will allow customers a high degree of flexibility in accessing their pipeline information and the level of analysis required, while ensuring maximum security for their critical data.
“Working with Penspen and the THEIA platform has been a perfect example of what complimentary skill-sets can achieve, the combination of deep industry expertise coupled with QiO’s AI software services allows customers to dramatically benefit from improved efficiency and safety of their operations,” added Baz Khuti, co-founder and CEO of QiO. “We look forward to enabling Penspen to successfully scale the THEIA platform to their global customers.”
POPULAR NEWS STORIES
LATEST VIDEOWatson Marlow pump collaboration with Siltbuster