Similarly, by combining an asset’s Digital Twin, mobile wearable technologies and Petrofac’s proprietary software, BuildME™, to digitalise offshore maintenance and inspection, reporting, and anomaly management, our Connected Workers are driving up to 200% improvement in offshore efficiency compared to traditional North Sea approaches. Combined, these approaches have huge potential to help us work even smarter, faster, and for less.
I believe the opportunity to leverage digital tools alongside commercial models that better align contractors and operators, could yield significant additional value.
We are working with some North Sea clients to plan a move from a time-based reimbursable model, to an output or outcome-based model. If you start aggregating this approach, linking contractor performance to contractor incentives via KPIs on asset uptime and cost, you have a real mechanism to drive asset performance. Those who are willing to engage with their supply chain and contractors and work collaboratively to drive the approach to delivery – using fit for purpose tools, systems and processes – are likely to gain even more, through fewer interfaces, costs and leakage, and allowing the supply chain to have greater scale and hence scale efficiencies, enabling further optimisation.