Akselos Project

We are working with Akselos (company out of MIT) on a Joint Industry Project (JIP) to investigate the potential to revolutionise asset management in the oil and gas industry. 

This two year JIP aims to prove the transformative impact of the use of engineering simulation technology combined with sensors and big data analytics for ageing offshore assets. The aim being to achieve the shared goals of safe Asset Life Extension and ultimately maximising economic recovery from the UKCS. The $2million JIP is part funded by the Eurostars innovation fund and the Swiss Commission for Tech Innovation, meaning there are three subsidised places available for 160,500 EUR. The JIP has already signed a global operator to test the concept on an ageing asset in the SNS.

The initiative will bring the JIP to our member companies and beyond, and we are current liaising with members and prospective project participants.

Benefits for each potential sponsor are:

  • Each receives a fully calibrated asset-centric digital twin for a single named asset
  • Each receives an Akselos asset-based license for two years including the Akselos Cloud-Based architecture and Decision Support System (dashboard)
  • Each gets a reduced price for the same license after the program ends
  • Each gets specialized plugins for fatigue and other analyses.

For further information, please download the project document.

If you are interested in joining the Akselos JIP or want to find out more information, please contact Keith Mackie (k.mackie@itfenergy.com) at our Aberdeen office.