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INSIGHTS ASSET PERFORMANCE MANAGEMENT – APM 4.0

Image courtesy ABB Energy Industries replace may be run to failure (reactive), whereas it makes time it takes for the high-resolution data including struc- sound business sense to secure more critical assets – where ture, objects, and alarms and events to be generated to be- downtime and maintenance costs may run to millions of ing available in the cloud is just 0.8 seconds. Using ABB’s dollars – with data-driven APM. portfolio of digital solutions including Asset Performance

Maintaining assets only when needed has been shown to Management applications and services, OKEA is able re- decrease maintenance costs by 20–30% and doing so ef- motely monitor asset health in near real-time. This project fciently reduces downtime by 20–50%. Unplanned main- achieved distributed asset data updates securely, enabling tenance is 4–10 times more expensive. personnel to visualize, analyze, and predict operations more

It is also important to note that only 18% of asset fail- effciently for more informed, data-driven decision-mak- ures happen due to wear and tear3, meaning that time or ing, and cost savings of as much as 30%5. In addition, less usage-based maintenance is the wrong strategy to use at personnel were required on the platform to monitor equip- least 80% of the time. ment. This enabled safer operations without increased risk.

Projects such as this demonstrate the power of streaming solutions such as 'Software-as-a-service' (SAAS), and how

Pushing the boundaries: ABB and OKEA

Earlier, I mentioned that partnering with a technology APM 4.0 – incorporating innovations such as AI and ML, provider with deep domain knowledge of APM and its role combined with creative problem-solving, expertise and collab- in the process industries is a prerequisite for success. This oration6 – can help unlock the disruptive power of APM 4.0.

is vividly illustrated by

ABB’s digital partnership with Norwegian operator

OKEA, which resulted in the Norwegian operator becom- ing the frst oil and gas company to successfully live-stream

Sources: • 1,2 https://new.abb.com/process-automation/genix/genix-apm contextualized process data to the cloud.

• 3 What is Asset Performance Management (APM)? | ARC Advisory Group (arcweb.com)

Located 130km from shore, Draugen is one of Norway’s • 5,6 https://new.abb.com/oil-and-gas/digital/okea-digital-partnership (video largest oil felds. Streaming real-time data directly from the and text) control system to the cloud was a major achievement. The 50 OFFSHORE ENGINEER OEDIGITAL.COM