11 February 2020
Petrofac generates additional value for North Sea projects through exclusive digital technology partnership
Petrofac announces today it has signed an exclusive partnership agreement with MODS, a digitalisation and dimensional control service company, to deploy its flagship product ‘Virtual Manager Enterprise’ (VME) at scale in the North Sea. The agreement provides Petrofac with exclusive rights to use VME within the UK Continental Shelf (UKCS) as an EPC contractor.
VME is an interactive data hub which facilitates collaboration between onshore and offshore personnel, increasing cross-discipline communications, workflow and productivity, while providing real-time progress tracking. The cloud-based tool considerably reduces the amount of interactions between systems and has documented productivity increases of 20-70%.
The exclusive partnership is part of Petrofac’s strategy to drive best-in-class delivery for clients across both its Engineering & Production Services (EPS) and Engineering & Construction (E&C) businesses through digital technologies. VME is one of several initiatives in development and deployment across the organisation, with potential for significant and sustainable value and cost savings, as well as performance driven improvement.
John Pearson, Chief Operating Officer, Petrofac Engineering and Production Services, commented: “By thinking differently about service delivery and combining decades of engineering, construction and operations know-how with the latest digital technology, such as VME, we’re generating cost efficiencies and increased productivity for our clients, across the life-cycle of projects.”
Jon Bell, MODS Chief Executive Officer, said: “This exciting new partnership with Petrofac will push boundaries and help the UKCS move into a new era of efficiency and innovation. Virtual Manager Enterprise was first developed in the North Sea, so it’s great to see it return to the region.”