£74k funding to develop RAM technology in upstream oil and gas

 

TomorrowsMedicines

Background

Process Asset Integration and Management Limited (ProAIM) is an
international process engineering and asset performance consultancy.

ProAim develops and implements advanced reliability, availability and maintainability (RAM) technologies using data-driven simulation and optimisation techniques to help clients improve their business performance.

Business Objectives

ProAIM required funding to continue its work with AMEC, one of the world’s leading engineering, project management and consultancy companies, for a 12 month feasibility study into the RAM aspects of the
upstream oil and gas industry.

The funding would enable it to develop its novel software technology to increase recovery efficiencies, improve asset integrity and extend the life of offshore installations.

Technical Challenges

To be successful in the Technology Strategy Board (TSB) grant application process, ProAIM needed help with the coordination of its industrial partners, AMEC and Operation Analysis Ltd in a collaborative bid and subsequent project.

The resultant study would need to identify whether new functionalities were feasible and which enhancements were needed to the existing technology. To do this, the partners would need to collaborate with potential clients worldwide.

Inventya Solution and timescales

Inventya supported ProAIM with a successful £74k proof of market grant application. Using its experience of complex bids, Inventya coordinated input from the three partners, and aligned the project objectives to meet the requirements of the TSB fund.

The resulting bid was successful and an offer of a grant was received within three months of the application. Inventya provided on-going input as required during the lifecycle of the project.

Outcomes

  • £74k TSB proof of market funding for the feasibility study
  • On-going support throughout the 12 month study
  • Funding and support enabling ProAIM to engage much larger industrial partners worldwide

Next Steps

With the funding ProAIM was able to bring in a UK office manager to oversee the project. Inventya will continue to support ProAIM in providing users with a list of technical, social and environmental benefits.

The net effect being that oil recovery efficiency and competitiveness of the customer will increase, with a simultaneous reduction in environmental waste.

Inventya are extremely reponsive and have provided ProAim with real expertise throughout the grant funding & application process. Inventya have enabled us to take this project to the next level, and we are confident that with Inventya's help, ProAim will develop a commercially attractive product.

Pablo Valls, UK Office Manager, ProAim