Finance News

£2M Asset Integrity and Data Analytics Contracts Boosts Imrandd’s UK Operations

Aberdeen-based industrial data and engineering consultancy Imrandd, has reported its most significant six-month growth period. The firm has secured a record £2milllion in topsides asset integrity awards with new and existing clients, amplifying its agile data-driven intelligence services further across the UK.

The firm has won 11 contracts indicating a 27% increase in revenue in Q3 of 2023 compared to the same period last year. As a result, 13 data scientists and multi-discipline engineers have been recruited, ramping up its headcount to 63.

Established in 2015, the company specializes in industrial data solutions helping clients in energy and other sectors to make fast and efficient business decisions in line with commercial and ESG strategies.

The new North Sea campaigns include extracting data from six of Ithaca Energy’s offshore installations, a one-year integrity management contract extension with long-term client Dana Petroleum; a 12-month pipework/ vessel risk-based assessment, and technical integrity scope for Harbour Energy; plus assessing the integrity of the Excalibur Floating Production Storage and Offloading facility for first-time client Ping UK, using Imrandd’s unique data gathering and analysis capability in collaboration with digital asset management specialist, GDi Ltd.

Imrandd founder and CEO Innes Auchterlonie, said: “This record period of growth demonstrates the competitive edge our data solutions and expert engineering guidance is delivering. Particularly where there are facilities operating beyond their original life span, companies are seeking fast, optimal answers to harness their assets’ performance safely and sustainably.

2 Imrandds industrial data solutions boost the effectiveness of clients asset management strategies safely and sustainablyImrandd’s industrial data solutions boost the effectiveness of clients’ asset management strategies safely and sustainably. (Photo credit: Imrandd)

“R&D remains core to our strategy, and we continually reinvest 20% of our efforts into evolving the next generation of our propriety AI and digital software services to help our clients stay ahead of the curve. This has ensured we are well positioned to leverage our expertise to safeguard the effectiveness of our clients offshore and onshore assets as they navigate the energy transition."

A range of Imrandd’s suite of digital solutions will be utilised across the new campaigns. These include EXTRACT, which digitizes legacy asset information and EXACT, which maps and predicts engineering, inspection and maintenance activities to deliver actionable insights which have proven to reduce Opex costs.

The firm is a finalist at next month’s (Nov) OEUK Awards, shortlisted in the Innovative Supply Chain Company (SME) category.

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