have launched a digital service to help improve the productivity of energy and other companies, aiming for sales of up to $100 million in five years.
The move comes as global oil and gas producers are looking to improve operational efficiency to increase output and therefore profit as they need to invest heavily in green energy to propel their future growth. The digital service was originally developed for its floating production storage and offloading vessels to trim downtime by combining technology and Modec's accumulated operations data from more than 20 years, which resulted in cutting downtime by 87%.
"We are in talks with a major oil producer in Asia as well as a global shipping company and a steelmaker," Ide said.
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