A DATA-DRIVEN APPROACH TO ASSET DILIGENCE

OPEX is working with the Oil and Gas Technology Centre (OGTC) on a second directed project to develop a new data-driven assurance service for operators acquiring legacy assets. 

By applying advanced data science techniques, the new service will provide operators with a clear picture of the health, condition and level of operational risk within the topside facilities of newly acquired assets, helping to improve due diligence and create an operational performance baseline.

Data-driven asset diligence

Jamie Bennett, CEO of OPEX commented; “A challenge for any operator acquiring legacy assets is developing an understanding of what they are buying in terms of the health, condition and level of operational risk within the topside facilities.  

“Existing due diligence exercises typically only evaluate inventory levels and often require the new owners to conduct complete overhauls of their new facilities at considerable expense.  This can lead to extensive periods of production downtime and environmental, business and regulatory risk.

“We look forward to working with the OGTC Digital Solutions Centre on this project.”