OREANDA-NEWS. November 17, 2016. GE (NYSE: GE) and Maersk Drilling announced a partnership to collaborate on a data analytic-driven pilot project with the aim to increase Maersk’s drilling vessels’ productivity and significantly reduce maintenance costs by up to 20 percent.

The two companies have collaborated to deploy SeaStream* Insight, GE’s latest innovation in marine asset performance management, powered by Predix*. The pilot project will be carried out on one of Maersk Drilling’s XLE rigs and will last for 12 months. Currently, the project has reached its first milestone, with data collected from the rig currently being processed and analyzed online.

“Digital capability will be one of the key enablers for Maersk Drilling, and we embrace this industrial transition,” said Jesper Hansen, CIO, Maersk Drilling. “We are excited to collaborate with GE who is at the forefront of the digital revolution.”

Operational sensor data from critical equipment is connected to a historian, a specialized server that stores the data needed to model the blueprint of the drilling operation. By building this “digital twin,” the digital software can then help compare assets to assets and provide access to vessel performance against the ideal state. Big data is also translated into clear dashboards with a holistic view of a vessel, which can help operators make more informed decisions.

Thanks to advanced algorithms and a strong data-processing capability, SeaStream Insight will also be able to predict the future state of critical asset health, therefore spotting inefficiencies or detecting potential failure earlier, up to weeks ahead. Operators are given early warnings to mitigate potential problems in advance, which help reduce unplanned downtime and increase drilling productivity.

In addition to enhanced productivity, SeaStream Insight will also allow operators to maintain equipment in a more efficient manner. As the “predictivity” allows transition from prescriptive (calendar-based) to predictive maintenance, it can help reduce excessive maintenance and significant costs for Maersk Drilling.

“With the fast-paced changes of globally connected economies and shifting regional opportunities, marine operators need to transform themselves to be efficient, predictable and nimble. Drawing critical insights from operational data is a crucial first step,” said Tim Schweikert, president and CEO, GE’s Marine Solutions. “With the present period of prolonged energy price instability, we believe data analytics tools provide the right technology that will help the industry going through current downcycle and maintain sustainable growth for the future.”

About GE

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. To learn more, please visit www.ge.com.

About GE’s Marine Solutions

GE's Marine Solutions is dedicated to power and propulsion systems for customers in the workboat, merchant, offshore and naval industries. Smart engineering coupled with software analytics, we provide customers with data-driven efficiency. Connecting the physical and digital worlds, GE helps power, propel, position and predict the marine industry for operational excellence. www.gemarinesolutions.com

* Indicates a trademark of the General Electric Company and/or its subsidiaries.