Aberdeen-based Wood Group has agreed a collaboration deal with University College Dublin to launch a new data analytics capability to deliver significant savings for the energy and industrial sectors.
Led by its Ireland-based specialist software team, Wood Group Kenny (WGK) will work with the Centre for Applied Data Analytics (CeADAR) to develop predictive analytics for deployment particularly in the oil and gas industry. This will initially be targeted at brownfield engineering services and will strengthen WGK’s existing services in the area of measured data analysis.
By tracking the integrity of system components, the service already delivers significant savings to clients through problem detection and optimization, leading to reduced inspection, intervention and maintenance costs.
Bob MacDonald, Chief Executive,Wood Group Kenny, said: “Maximising productivity is a strong focus, even more so in the current low oil price environment. The accelerated development and deployment of advanced analytics capabilities will provide a significant enhancement to our existing brownfield engineering service line in 2016.
“This specialist technical capability will allow Wood Group Kenny to handle data more efficiently and deliver a greater volume and variety of cost saving insights to our clients.”
CeADAR is funded by Enterprise Ireland and Industrial Development Authority (IDA) Ireland. It is a market-focused technology centre for the innovation and application of big data analytics and visualisation with private-sector partners.
It specialises in accelerated development and deployment of technologies such as data management, predictive analytics, machine learning, real time analytics and visualisation.
Dr. Brian Mac Namee, Principal Investigator at CeADAR, said: “Working with Wood Group Kenny provides a great opportunity to apply the latest data analytics techniques to large, interesting, real world datasets, and to see this application make a difference to Wood Group Kenny’s business.”