Petrofac: Discovering digital depths
Petrofac and Accenture are digitally transforming the way in which Petrofac delivers upstream operations, engineering and construction services.
In the UK Continental Shelf, a mature basin that includes part of the North Sea, oil and gas operators are looking to maximize economic recovery by focusing on efficiency, optimization and cost reduction.
The average uptime of mature assets in the North Sea has been in the range of 70-75 percent. Under its traditional ways of working, Petrofac often exceeded this measure. It felt it could do even better.
Petrofac knew that digital technologies would be critical enablers of its transformational vision by driving improvements in every aspect of its operations—from worker safety and productivity to plant and construction site performance.
Accenture, with broad expertise in the oil and gas industry as well as the Internet of Things (IoT), Artificial Intelligence (AI), Augmented Reality (AR) and analytics was a natural fit to help Petrofac develop and implement a comprehensive digital strategy.
A visit by Petrofac’s leaders to the Accenture London Industry X.0 Zone—a facility designed to showcase the power of the latest technologies and the art of the possible—sealed the deal. In addition, the Accenture Industry X.0 Innovation Center in Sophia Antipolis was tapped to further flesh out the execution process and program management requirements.
"What if we had an offering that clients would queue up for? What if we could deliver at a significantly lower cost, deliver on schedule and operate with high uptime?"
As a first step, Accenture hosted “re-imagining workshops” with Petrofac leaders to identify transformation opportunities across two areas of the business. Petrofac then collaborated with Accenture on several key transformation projects:
Designed to lower operating costs and improve uptime, this initiative combines a real-time AI-powered dashboard, insights, and predictive analytics.
This solution is designed to collect and combine people and equipment data, offering real-time visibility into a site’s operational performance.
An immersive space where Petrofac’s clients, suppliers and digital specialists can collaborate on solutions set to transform the oil and gas sector.
With Accenture’s help, Petrofac has successfully embarked on an Industry X.0 transformation that revolutionizes asset support service delivery and a changed approach to construction management:
Increased uptime, productivity and profitability, with lowered operating costs and risks.
Faster decision-making, scheduled safety and task alerts, and can monitor the movement of people to improve productivity and safety.
The Aberdeen Innovation Zone is enabling collaboration to improve business operations and explore new digital services and commercial models.
Wearable technology to automate data capture, offer remote assistance and institute safer procedures.
Increased asset uptime by minimizing “failure to fit” rates, lowering operating costs through reduced offshore surveys and improving sales.
"Working closely with Accenture and its Industry X.0 practice, we're harnessing our extensive engineering and operations experience to develop and deploy technological solutions that boost productivity and deliver sustainable efficiencies."