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Ocyan completes investment in Vidya Technology, a Brazilian startup specialized in asset integrity

22 November 2023 to 11: 08
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Ocyan completes investment in Vidya Technology, a Brazilian startup specialized in asset integrity
Rodrigo Lemos – photo by Bruno de Lima

Partnership with the company focuses on the startup’s expansion in the oil and gas and energy markets

Rio de Janeiro, November 21, 2023 – Ocyan, an oil and gas company, signed an investment agreement with participation in Vidya Technology, a startup specialized in asset integrity. This is the first time that Ocyan has invested in a startup in the form of Venture Capital. Ocyan now has a minority shareholding 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 company's startup connection program, the Ocyan Waves Challenge, launched in 2019, with the proposal to search for startups that would present solutions to the 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 consisted of building a Digital Twin for BOP (Blowout Preventer), and the other in optimizing integrity management and corrosion 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 people in the field, while increasing the efficiency and safety of assets. 

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Vidya's platform has the ability to visually contextualize operational and reality capture data in the field, inspection, maintenance and engineering processes, reducing equipment intervention time and, most importantly, drastically reducing the need for people on board (POB). The technology adopted uses 3D virtual representation, heat maps, identifies and classifies anomalies autonomously using computer vision, optimizes alert management, in addition to integrating with the technological environment of the industrial operation. The results generated in each of the possible applications of the Vidya platform bring Return on Investment in a few months for industrial unit operators. 

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. Furthermore, this partnership reflects Ocyan's commitment to supporting the Brazilian innovation ecosystem, especially the development of deeptech startups. 

For 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 the diversification of Ocyan's business. “We are excited about this new stage of our partnership with Vidya and the opportunities it will bring for both companies. This movement demonstrates our commitment to driving innovation and improving our operations, generating value for our customers 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 of the startup's growth 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 customers . “Ocyan’s participation is an opportunity for growth and comes at a very opportune time, providing greater support for the expansion of our operations to the United States”, he highlights. 

For Correa, the expectation with the expansion is to position the startup alongside large oil, gas and energy corporations in the world. “We offer technologies and solutions that are very competitive internationally”, he pointed out.

 

About Ocyan 

Ocyan is a supplier to the oil and gas and new energy sector. Its role is to provide solutions for the offshore industry in production areas, through the Altera&Ocyan joint-venture; subsea construction and decommissioning projects, as well as offshore maintenance and services. It also has a shareholding in the offshore drilling segment, through the new drilling company, Foresea. Ocyan also advances in studies and projects related to new services and energies, technologies and Corporate Venture Capital.

 

About Vidya

Vidya Technology's main objective is to make industrial operations safer, more efficient, autonomous and sustainable. For this purpose, the company combines engineering experience with expertise in hardware, software and artificial intelligence to develop and implement solutions for managing the integrity and performance of industrial assets. Vidya already applies its solutions to the most well-known companies in the Oil and Gas sector in Brazil, and operates in other sectors such as Mining. With partner Ocyan, it hopes to further expand its relationship and portfolio of projects and clients in Brazil and around the world. 

 

 

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