It is the era of the digital twin, connected assets and predictive analytics, and with proven solutions covering the entire energy life cycle, LR is excited about what it can bring to its clients and the US market.
David Clark, LR’s Energy Director, says: “Our digitally enabled solutions have played a significant part in helping our clients realise efficiency improvements. Established solutions such as LR’s reservoir data interpretation software has long enabled clients to cut through their data noise to improve decision making. A key aspect of our new innovation strategy is to enhance this data and digital capability through collaboration and co-creation, allowing us to add more value to our clients’ projects and operations.”
Digital developments have an intrinsic role in the next chapter of any company’s journey. Clark explains: “We are shifting our future growth plans and moving up the value chain with high-end technical consultancy services. Data, digital and technology-based products will increasingly become a core part of our offering to the market as we open up opportunities to radically improve how safety risks are identified and managed, from human factors to operational issues, and across the full energy life cycle.”
LR is already demonstrating how the power of digital combined with its technical capability is helping customers better manage the risk and performance of their complex assets and commercial activities:
- a new software suite, LR AllAssets, serves a cross-industry need for more advanced asset performance management solutions – reducing operating expenditure while increasing reliability and availability;
- new risk insight tools such as LR’s SafetyScanner; the early demonstration of Human Analytics as a further step in improving human related risk factors;
- growth in customer pilot projects with more than 30 in execution spanning; blockchain, operational efficiency, risk detection and mitigation; and several early stage venture investments to support digital innovation.
Clark highlights: “Our clients spend money to maintain offshore and onshore assets, and we want to make sure they spend this money wisely and efficiently. We are setting a new direction for the long term, not the here and now. The macro energy transition will happen with or without us, but our digital and technology-based projects show that we’re being pro-active – adapting to it to achieve our goal of being a successful company long into the future.”
LR is showcasing its technical expertise and commercial innovation at OTC Houston from 6 to 9 May 2019 at Booth # 3761