Wood's artificial intelligence inspection solution could create $2 billion in annual savings for the offshore oil and gas industry

UK engineering and consulting company Wood is developing a new offshore inspection solution that is claimed could create A$2.8 billion (US$2 billion) in annual savings for the offshore energy industry.

The Augmented Machine Vision Solution (AMVS) was developed through a 12-month A$288,600 partnership between Wood and National Energy Resources Australia (Nera) — a not-for-profit company funded through Australian government grants and matched by industry and stakeholder funding.

The AMVS utilises artificial intelligence technology in a real-time inspection solution, capable of autonomously detecting and categorising equipment anomalies.

In contrast to traditional inspection, which has required technicians to travel offshore to manually review numerous hours of footage recorded by inspection devices, the AMVS utilises an AI engine to “watch” the footage, searching for potential faults and flaws that need to be further inspected or have repairs undertaken.

In addition to flagging up anomalies, Wood and Nera claim the technology also eliminates the need for technicians to travel to hazardous, offshore sites, while also claiming it is faster and more accurate than traditional methods.

Massive savings

The companies believe the new technology could create savings of AUD$2.8 billion per year for the offshore energy industry through the reduction in safety risks and the associated process improvements, as well as through faster turnaround times and reduced cost for crew and vessels.

“By combining Wood’s deep domain knowledge with cutting-edge AI technology, the AMVS will deliver a safer and faster inspection approach which can provide operators with more accurate and up-to-date information to help maximise the output of their assets,” said president of Growth & Development at Wood. Azad Hessamodini.

“It’s a game changer for inspections which we know are susceptible to human-error and inconsistencies. This project is a perfect fit with our focus to develop innovative solutions that enable more connected operations for our clients.”

Nera chief executive Miranda Taylor added: “This project is improving the inspection of infrastructure that’s long been a highly labour intensive and dangerous activity. Through this project we’re helping to reduce the need for technicians to spend long hours offshore examining footage of equipment by using software developed by Wood to examine the footage under the control of technicians who can remain safely onshore. “

"We’re excited to see potential opportunities emerging for this solution to be deployed into a number of other fields.”

The Taser project aims to improve subsea equipment design and reduce the requirement for costly and time-consuming interventions in Australia’s challenging warm water offshore environment.

Other members in the Taser project consortium included Chevron, Shell, Woodside Petroleum and the University of Western Australia.