Penspen & QiO Techologies Announce Partnership with Launch of THEIA, Penspen’s Flagship Digital Integrity Service
Penspen have developed THEIA in partnership with QiO Technologies as an environment for pipeline operators across the world to access Penspen’s leading expertise in defect assessment and asset integrity management. The project is part of the company’s ongoing commitment to the digital transformation of its services.
Peter O’Sullivan, Penspen CEO, explains ‘There is no secret about the challenges we face in the energy industry. Ageing pipeline assets mean greater risks which are in turn set against a background of industry-wide cost reductions and increased regulatory demands. Furthermore, loss of skills and strong competition for new talent mean resources for the time-consuming analysis of inspection data are limited. THEIA responds to all these constraints by empowering operators to make critical and timely decisions for the optimum management of their pipelines.’
THEIA combines Penspen’s 65 years of technical experience, industry knowledge and quality assurance skills with QiO Foresight Maintenance® technology to provide a complete picture of pipeline assets under a wide range of different environmental and operating scenarios. Penspen believes harnessing predictive data analytics in this way will enable its clients to gain insights into how best to manage pipeline integrity as well as to plan whole life-cycle technical assurance.
The ability to run complex assessments quickly, repeatedly and securely, providing predictive information and analysis, forms the backbone of the current THEIA offering. QiO’s specialist skills in machine learning and AI will contribute to the further development of THEIA’s capabilities, consistent with the growing trend for automation of manual processes. This will unlock trapped business value through the use of the most advanced analytical techniques.
THEIA is a cloud-based, subscription service designed to allow clients a high degree of flexibility in accessing their pipeline information and the level of analysis required, whilst at the same time ensuring maximum security for all of their critical data. Over the next twelve months, Penspen will make instant, first-level checking of defects available to every pipeline operator worldwide.
“Working with Penspen and the THEIA environment has been a perfect example of what complimentary skill-sets can achieve, the combination of deep industry expertise coupled with QiO’s AI software services allows customers to dramatically benefit from improved efficiency and safety of their operations. We look forward to enabling Penspen to successfully scale the THEIA environment to their global customers”, said Baz Khuti, QiO’s Co-Founder & CEO.
For further information, please contact the THEIA team: THEIA@Penspen.com.