A Scottish university is leading a project to develop innovative artificial intelligence-based software that could streamline oil and gas industry logistics in the North Sea and reduce CO 2 emissions.
A Scottish university is leading a project to develop innovative artificial intelligence-based software that could streamline oil and gas industry logistics in the North Sea and reduce CO2 emissions.
Aberdeen-based company PlanSea Solutions, a spin-out from Robert Gordon University (RGU), is developing the software after securing funding from the Oil and Gas Technology Centre (OGTC).
The project builds on preliminary work undertaken by RGU and the OGTC to assess existing vessel utilization and efficiency in the UKCS. The study highlighted potential cost savings of up to 25% on an annual industry spend of more than £300 million and identified the contribution optimization software can make to reduce the sector’s CO2 emissions.
The marine logistics optimization and efficiency software is being developed in partnership with BP, CNOOC International and Equinor. The OGTC funding will enable the software, optimization tools and web applications to be developed in the next 12 months.
The project will leverage existing optimization algorithms and software tools developed by RGU, which have already been successfully applied onshore in the telecommunications and haulage sectors.
PlanSea co-founder and CEO Jim Cargill, said: ‘Innovation and new technology has a key part to play in the next chapter of our industry’s future so we are pleased to have secured funding for this important cutting-edge technology which promises to save money and contribute towards Net-Zero.
‘The partnership with BP, CNOOC International, Equinor and the OGTC is a great example of industry collaboration and will be critical in turning this innovative and transformational concept into a set of powerful tools for the industry’, added Cargill of the Aberdeen-based initiative.
