Lloyd’s Register – the engineering, technical and business services organisation – has acquired RTAMO Ltd, a software enabled consultancy based in Aberdeen which provides data designed to reduce maintenance costs for asset owners.
Murray Douglas, Lloyd’s Register’s Strategic Project Director explained: “At this critical economic time of low oil prices, asset owners are seeking better ways to maximise value.
“RTAMO – Real Time Adaptive Maintenance Optimisation – enables this to be done safely and sustainably by enabling asset owners and operators to tailor their maintenance strategy and preventive maintenance plans to suit their specific commercial needs.”
Recent maintenance optimisation projects conducted using RTAMO on more than 20 offshore facilities for major international operators and mid-cap operators have delivered savings in maintenance costs of up to 30%.
Projects to date include Maersk, BG Group, Shell and Centrica.
Dr. Neil Arthur, now Head of RTAMO within LR, said: “Our methodology and software supports all phases of asset life – design, operation, tail end life and decommissioning. It’s also evidence-based, which has an advantage over conventional maintenance planning. It is sensitive to commercial factors such as commodity price, mean time to failure and cost of planned versus corrective maintenance. The very fact that we take people out of a hazardous environment has a direct impact on improving safety.”
The RTAMO acquisition is the latest investment by LR to drive data and digital innovation solutions for clients. In June 2016, LR announced its collaboration with Silicon Valley-based greenfence – the first platform technology serving the Testing, Inspection and Certification (TIC) marketplace.