Bechtel, a global engineering, procurement, and construction leader, has been awarded the prestigious 2018 Digital Edge 50 Award in recognition of its new Pipeline Integrity Management (PIM) tool. With support from Bechtel's Future Fund, an internal incubator which finances development of disruptive technologies, innovators from the Bechtel pipeline business designed the tool to help customers prioritize critical pipeline integrity work and improve overall safety. The tool integrates pipeline data, Geographic Information Systems (GIS) and data-science modelling to help customers better forecast maintenance and replacement of pipeline systems.
"Bechtel has built more than 50,000 miles of pipeline – enough to circle the Earth twice. This extensive experience, combined with our data analytics capabilities, is allowing us to build new predictive models and deliver unparalleled digital solutions for new and existing customers" said Richard Wall, Bechtel's General Manager for Pipelines. "Our PIM tool is one of our key competitive advantages in this sector and we are honored to receive this important award in recognition of the impact it will have across the pipeline industry."
Bechtel began development of the PIM tool after it was recognized that customers needed support establishing new standards of pipeline safety across the world. The tool utilizes massive geospatial data sets and proprietary algorithms, creating detailed risk assessments based on over 100 parameters and relationships known to contribute to pipeline failures. This data is then used to assess the impact of incremental changes in material, construction and geospatial characteristics along the length of the pipeline. Utilizing Bechtel's Big Data & Analytics Center, the PIM tool can analyze hundreds of thousands of welds and joints of pipe in a matter of minutes, providing valuable assessments of a customer's pipeline system in record time.
Every year, the Digital Edge 50 Award recognizes a select group of digital achievers whose organizations have made great strides toward being a digital-centric business. Entries are judged by a distinguished panel of IT and business leaders on criteria including innovation, complexity, scale and impact.
Date: Dec 19, 2017