The Feasibility study has enabled the analysis of the development and implementation of the novel LIMPET solution from a technical, commercial and financial viewpoint.
From a technical viewpoint, design optimisation and validation of the LIMPET solution specified positive results in terms of the required parameters for strength, performance and safety provisions. The flow meter collars must be functional in a myriad of scenarios, and they need to be effective in continuous subsea monitoring.
An all-encompassing intellectual property (IP) and regulation examination was conducted and no conflicts were found. Furthermore, we conducted a technological risk assessment for the project and have developed mitigation strategies to lessen their possible impacts on the successful development of LIMPET.
A comprehensive market study confirmed the commercial viability of LIMPET, with opportunities for the solution in our target markets, that is, in the UK, Canada and the MEA region. We have also confirmed the existence of lucrative, potential markets in the North American and APAC regions. Moreover, we have been able to identify potential clients and strategic partners for the LIMPET solution in these regions and are implementing measures to initiate talks with these entities to facilitate a route to market.
We have finalised an exploitation and dissemination strategy which will see us using various platforms including, but not limited to, dedicating a webpage to LIMPET on the Dashboard website which will detail the progression of the project. We will also have in-field demonstrations of the solution and have meetings with industrial associations. Furthermore, LIMPET will be exhibited at various O&G leak detection and theft prevention technology oriented fairs and exhibitions across the globe from 2018 onwards.