Pump supplier Framo, used the Cognite Data Platform to access their operational data for the first time. Armed with this knowledge, Framo has entered into the first performance-based contract on the Norwegian Continental Shelf with operator Aker BP.
Traditional industrial infrastructure has limited supplier relationships to a transactional format. The results include static reporting, uninformed maintenance schedules, and a waste of money and resources on both sides.
Framo is a global OEM providing pumps to the marine industry. Historically, they have been unable to access or leverage operational data for Oil & Gas. Data has only been made available for sporadic projects linked to specific, isolated events, such as equipment failure. If Framo were to have access to their clients’ industrial data, past and real-time, they would gain the knowledge needed to improve and innovate on their existing products and services.
Working closely with Aker BP, Framo utilized the Cognite Data Platform to access Aker BP’s industrial data. With API access to the CDP, Framo was able to inform their product development. Integrating with Aker BP’s ERM system, they could set work orders and enable a feedback loop with design and engineering. From there, Framo was able to develop and launch more effective, service-based models informed by real-time data.
Now that real-time data is instantly available, users can experiment with advanced analytics and machine learning to deliver an improved performance and new products. This new way of working lays a foundation for redefined business models, allowing OEMs to move from selling equipment to service-based offerings.