Lloyd's Register Energy and MaxGrip Improve Risk-based Inspection

New alliance provides oil and gas operators and other asset-intensive industries, a better visibility on risk-based monitoring to improve safety, equipment integrity and operational reliability with uptime equipment gains of at least 20%.

Lloyd’s Register Energy, a world leader in providing compliance, integrity and specialist risk consultancy services to the energy industry, announces it is forming a strategic alliance with MaxGrip. 

The alliance sees the development of a new risk-based inspection (RBI) software module called ‘strEAM+ RBI’. The collaboration leverages Lloyd’s Register Energy’s market leading integrity engineering and RBI experience with MaxGrip’s expertise in software development and its strEAM+ framework -- which offers a unique software solution that directly embeds into an enterprise’s asset management application, including IBM Maximo, SAP and INFOR EAM.

Andy Scott, VP Asset Integrity Services Americas, Lloyd’s Register Energy, says: “Companies operating in asset intensive industries are seeking ways to balance long term decisions with day to day operational challenges. Our new solution enables clients to optimise the operation of their asset, providing the capability to understand risk and predict safe operating parameters, whilst leveraging their enterprise asset management system where big investments have already been -- a key factor in today’s low oil price and cost sensitive market.”

strEAM+ RBI embeds with IBM Maximo - an exclusive feature of the new module - to optimise inspection and maintenance schedules, and which achieves cost savings of up to 50% for inspection and maintenance of assets whilst reducing operational risk. It helps customers to increase uptime equipment availability by at least 20%, avoiding failures by creating a strong understanding of predicable and non-predictable failure modes. 

“We have worked with MaxGrip to develop strEAM+ RBI, which forms part of our enhanced asset performance management solution, due for release later in the year,” highlights Scott. “A key driver for the new product development is to provide clients with the ability to work on single source data to drive improved decision making, and the development of an intuitive model builder allowing the easy development of risk models for many new types of assets, including both fixed and floating structures.”

The software provides enhanced levels of information for safety, environmental, production and regulatory needs.

Jakob Boelens, CEO of MaxGrip said: “Today’s demanding business environment asks for solutions that can be implemented fast, are straightforward to use and deliver value from the very first day of deployment. Our strategic alliance with Lloyd’s Register Energy, for the development of strEAM+ RBI, enables us to bring to the market a world class solution to meet these demands.”

The new strEAM+ RBI module will be showcased at IBM’s Interconnect2015 conference, one of the world’s largest software and information systems conferences attended by over 20,000 people. 

The initiative is part of Lloyd’s Register Energy’s commitment to the development of the next generation of its highly acclaimed reliability-based mechanical integrity (RBMI) software package. The official launch is planned for mid-2015. The commitment by both companies in this alliance and the combined software capability introduces a leading asset performance management solution to the market. 

To learn more, download the fact sheet here.

Ends

Notes to editors 
Lloyd’s Register Energy is a division of Lloyd’s Register (LR), a global engineering, technical and business services organisation wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering. Founded in 1760 as a marine classification society, LR now operates across many energy industry sectors, with over 9,000 employees in the group across 78 countries.

LR has a long-standing reputation for integrity, impartiality and technical excellence. Our compliance, risk and technical consultancy services give clients confidence that their assets and businesses are safe, sustainable and dependable. Through our global technology centres and research network, LR is at the forefront of understanding the application of new science and technology to future-proof our clients’ businesses.

strEAM+ is a solution of MaxGrip, the world’s front-runner in asset performance management. Directly embedded into a company’s enterprise asset management system, strEAM+ ensures easy adoption, operational focus on reliability, data integrity and real-time insight into asset performance. strEAM+ is the best integrated software solution available today to efficiently balance risks and costs against a business’s objectives.

The new release includes MaxGrip’s established Reliability Centred Maintenance (RCM), Root Cause Analysis (RCA), maintenance models, compliance manager and predictive modules as well as LR’s inspection and thickness management software and pre-configured predictive models.

MaxGrip is innovative and ambitious. It is our mission to make the world a safer place. We believe that all asset-related incidents can be prevented. By analysing risks and optimizing maintenance, we enable our clients to focus on their core business and make continuous improvement a way of life.

MaxGrip has an exceptional track record in bridging the gap between theory and practice. We live and breathe reliability, using only proven methodologies to help clients everywhere to meet their asset performance management objectives. The world’s largest enterprises already rely on MaxGrip every day.

For media enquiries contact
Jason Knights
Global Communications Manager
Lloyd’s Register Energy
T +44 (0)20 7423 1741
M +44 (0)78 2728 2569
E jason.knights@lr.org
LinkedIn www.linkedin.com/in/jknights 

Lloyd's Register
71 Fenchurch Street, London EC3M 4BS, UK 
T +44 (0)20 7709 9166 
E news@lr.org

Lloyd’s Register and variants of it are trading names of Lloyd’s Register Group Limited, its subsidiaries and affiliates.

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