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Partnership with the Company Focuses on Startup Expansion in Oil, Gas, and Energy Markets
Rio de Janeiro, November 21, 2023 – Ocyan, an oil and gas company, has signed an investment agreement with participation in Vidya Technology, a startup specializing in asset integrity. This is the first time Ocyan has invested in a startup in the form of Venture Capital. Ocyan now holds a minority equity stake in the startup, which, in turn, will also be able to use the company’s assets and technical knowledge to execute new innovative projects.
Ocyan’s relationship with Vidya was born through the company’s startup connection program, the Ocyan Waves Challenge, launched in 2019, aimed at finding startups that presented solutions to challenges identified as priorities by the company. Through the second edition of the program, in 2020, Vidya and Ocyan executed two pilot projects together: the first scope involved the construction of a Digital Twin for BOP (Blowout Preventer), and the other focused on optimizing the integrity and corrosion management of FPSOs. The solution applied in both projects was Vidya’s software platform, which combines 3D models, reality capture, visualization capabilities, data processing, simulations, and artificial intelligence to ingest and contextualize data, solving industrial asset performance challenges. This reduces equipment intervention time and the need for personnel in the field while increasing the efficiency and safety of assets.
Vidya’s platform has the capacity to visually contextualize operational data and reality capture in the field, inspection, maintenance, and engineering processes, reducing equipment intervention time and, most importantly, drastically decreasing the need for personnel on board (POB). The technology adopted uses 3D virtual representation, heat maps, identifies and classifies anomalies autonomously using computer vision, optimizes alert management, and integrates with the technological environment of industrial operations. The results generated in each of the platform’s possible applications provide a Return on Investment within a few months for operators of industrial units.
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The integration of Vidya’s expertise with Ocyan’s operations will provide substantial gains in areas such as predictive maintenance, operational safety, and asset management. Additionally, this partnership reflects Ocyan’s commitment to supporting the Brazilian innovation ecosystem, particularly in the development of deeptech startups.
According to Rodrigo Lemos, Vice President of New Energies and Services at Ocyan, the company’s participation is strategic and should contribute to the growth of the startup, in addition to diversifying Ocyan’s business. “We are excited about this new phase of our partnership with Vidya and the opportunities it will bring to both companies. This move demonstrates our commitment to driving innovation and improving our operations, creating value for our clients and strengthening our position in the Oil and Gas and Energy industry,” says the executive.
According to Otávio Correa, CEO of Vidya Technology, in addition to the strategic nature for the growth of the startup in the national and international market, the partnership should enhance the evolution of products, artificial intelligence, and operations, which could generate even more gains for all Vidya’s clients. “Ocyan’s participation is a growth opportunity and comes at a very opportune moment, providing greater support for the expansion of our operations into the United States,” he emphasizes.
For Correa, the expectation with the expansion is to position the startup alongside major oil and gas and energy corporations worldwide. “We offer technologies and solutions that are quite competitive internationally,” he pointed out.
About Ocyan
Ocyan is a supplier in the oil and gas and new energies sector. Its operations involve providing solutions for the offshore industry in production through the joint venture Altera&Ocyan; underwater construction and decommissioning projects, as well as maintenance and offshore services. It also has equity participation in the offshore drilling segment, through the new drilling company, Foresea. Ocyan is also advancing studies and projects related to new services and energies, technologies, and Corporate Venture Capital.
About Vidya
Vidya Technology aims to make industrial operations safer, more efficient, autonomous, and sustainable. With this purpose, the company combines experience in engineering with expertise in hardware, software, and artificial intelligence to develop and implement solutions for managing integrity and performance of industrial assets. Vidya already applies its solutions in the most recognized companies in the Oil and Gas sector in Brazil and operates in other sectors such as Mining. With the Ocyan partnership, it hopes to further expand its relationships and project portfolio with clients in Brazil and around the world.
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