Matrix joins forces with industry experts to launch new optimisation service

IQ2 is the combination of each company’s proven expertise in asset data analysis, forensic investigation and root cause analysis, designed to provide a total solution for asset performance optimisation. Using proven methodologies to identify systemic root causes of performance issues, IQ2 devises corrective and preventative actions that are prioritized by return on investment predictions.

Alan Smith, operations director, Matrix Risk Control said: “We are excited about bringing IQ2 to the marketplace along with Add Energy and STC Global.

“This new industry solution brings together three different but complementary skill sets to offer a truly intelligent solution that not only identifies immediate actions for improvement but also preventive measures to correct existing and future issues.”

The new service follows a three-step process covering; selection review, analysis and optimisation. This process supports the IQ2 expert team in identifying and resolving key systemic failures, using quantitative and qualitative analysis ahead of developing solutions to resolve issues which have negatively impacted on production, safety and reliability.

These solutions will deliver the return on investment (ROI) required to justify the long-term commercial case for embarking on the identified improvement programme, proving a worthwhile exercise and procedure for many companies in today’s difficult marketplace.

Peter Adam, Add Energy’s EVP for Asset & Integrity Management added: “Historically, we have been able to identify significant cost savings for our clients through analysis and improvement road mapping. An example of this comes from a project that was delivered recently in Kazakhstan where we developed a list of 40 improvement changes that accumulated over $20M worth of savings for the client.

“IQ2 not only conducts a forensic investigation into systematic failures, but also implements the improvement opportunities so that the ROI can be achieved. To ensure confidence in investment of IQ2 , we offer a free asset screening for suitability and calculation of ROI forecasts, as well as different options on payment models.”

Further information on the new service is available at www.iq2-rca.com.