Radix and OSIsoft launch partnership to help accelerate digital transformation in oil and gas
Radix Engineering and Software and OSIsoft LLC, a leader in operational intelligence, announced today that the two companies have partnered to jointly pursue a targeted group of strategic midstream oil and gas companies where Radix has a unique executive level relationship and value proposition. The goal of the partnership is the support of digital transformation and the associated adoption and deployment of the PI System to reduce O&M costs, optimize overall asset reliability, efficiency and integrity, and maintain high EHS and regulatory oversight standards.
Oil and gas is expected to be one of the principal pioneers of digital transformation technologies such as predictive maintenance and cognitive computing. The World Bank estimates that digital transformation in oil and gas could unlock $1.6 trillion worth of economic value for the industry and society as a whole.
The partnership will also support Radix’s development of PI Asset Framework (AF) templates and related digital solutions specifically targeting midstream companies. A subset of the partnership developed PI AF and PI Vision templates will be shared with the broader PI System community through the OSIsoft Midstream Users group and PI Squared PI AF jump start kits.
In this partnership, Radix leverages its extensive executive level experience and relationships, unparalleled understanding of the Midstream industries business models, and PI System certified pool of engineers. OSIsoft provides the PI System enterprise operational data infrastructure and analytics platform software and experience with supporting digital transformation initiatives with a broad global Midstream O&G customer base. The Radix/OSIsoft partnership will focus on taking the strategic asset of Midstream O&G operational data including IIOT, adding context, and leveraging a “layers of analytics from the edge to the cloud” approach with IT data (aka “Big Data”) to enable self-serve business intelligence to deliver transformational business value.
The PI System
The PI System from OSIsoft captures the vast data streams from sensors, machinery and other devices and transforms them into rich, real-time insights by adding contextualization, Meta data, event alarms, Asset Frameworks (i.e. digital twins) and visualization, among other enhancements. The PI System serves as both a system of record for industrial operations--generating an accurate, detailed portrait of operations that can span for decades--as well as an environment for data-based decision making.
Over 1,000 leading utilities, 65% of the Fortune 500 industrial companies and 80% of the oil and gas companies listed in the S&P Global Platts Top 250 rely on the PI System to manage their operations. Worldwide, the PI System is being used to manage over 1.6 billion sensor based data streams.
Radix Engineering and Software – A Digital Engineering Company
Radix has combined (1) Traditional Engineering, (2) Automation & Process Control and (3) Software into one creating a Digital Engineering Company. What differentiates Radix is the extensive design and operating expertise related to the midstream industry which augments our ability to deliver financial impactful digital solutions to our customers. Our resume includes optimizing the performance and reliability of large fleets of rotating equipment, gathering and mainline transmission, asset integrity, gas processing, storage, LNG and the deployment of fully integrated enterprise solutions.
OSIsoft is dedicated to helping people transform their world through data. For more, please visit www.osisoft.com