AVEVA and Aras Sign Lighthouse Agreement with McDermott in energy sector

• New collaboration focuses on excellent user experience (UX) for data-centric asset lifecycle management, from planning to disposal
• Joint agreement aims to boost quality and margins for capital projects across energy transition, oil and gas, and nuclear sectors

London, UK, October 30, 2023 - AVEVA, a global leader in industrial software, and Aras, which provides the most powerful low-code PLM platform with applications to design, build, and operate complex products, have announced a lighthouse agreement¹ with international engineering procurement and construction company, McDermott Global, to develop and standardize its asset lifecycle management capability that spans the energy transition, oil and gas, and nuclear sectors.

The McDermott agreement follows a recent strategic OEM partnership, between AVEVA and Aras, to deliver a new series of scalable AVEVA offerings, built on top of the modular Aras Innovator platform. It aims to overcome the challenges of deploying Product Lifecycle Management (PLM) in large engineered-to-order projects and in the operation of continuous-process assets.

The seamless integration of Aras Innovator with AVEVA Unified Engineering, AVEVA Asset Information Management and other AVEVA tools and services will enable the creation of an engineering system of record. A trusted single source of truth will allow customers to improve engineering efficiency, data control and distribution, and traceability across the entire asset lifecycle.

Vaseem Khan, SVP Global Operations, McDermott, said: "This lighthouse agreement underscores our long relationship with AVEVA's solutions and the relationship we're building with Aras. The integration of these two toolsets presents a strong digital-centric execution solution bringing together proven EPC tools with the robust digital transformation possibilities of the low-code Aras platform to digitalize industry processes that have been document-centric for too long. We're excited to see the potential value out of this lighthouse program."

McDermott is shaping the sustainable energy transition around the world through capital projects, engineering, construction and more. The company has a long-standing relationship with AVEVA, tapping the industrial software leader's data integration and digital twin capabilities to increase efficiency, reduce costs, and improve its products. With AVEVA Engineering, McDermott now offers its clients improved data-sharing.

Rob McGreevy, Chief Product Officer at AVEVA, said: "We are proud to be working with McDermott on this lighthouse program. McDermott's engineering expertise forms an essential input in pioneering an industry solution that is urgently needed to improve outcomes in the energy, nuclear, marine, and other sectors. Our asset lifecycle management capability developed together with Aras will provide competitive advantages for customers who join the lighthouse program."

Effective asset lifecycle management

The three lighthouse participants share a vision of and commitment to data-centric digital deliverables management. The lighthouse engagement is the basis for unifying data and document deliverables, and automating business processes. The engineering system of record becomes the enabler for adopting change and config management, requirements management, supplier exchange, and other key capabilities required by customers for effective lifecycle management.

The goal of Asset Lifecycle Management and the Lighthouse agreement is to realize benefits in terms of lower costs and risks over the project lifecycle, to improve decision-making support across the entire asset lifecycle, achieve better compliance and traceability, and enhance collaboration across the industrial ecosystem.

Roque Martin, CEO of Aras, said: "AVEVA's robust industry asset lifecycle management solutions, built on the Aras platform, will enable McDermott to design and better manage their customers' asset lifecycle data by leveraging a fully connected digital thread of the asset's engineering and operations information. From the start, these solutions will be guided by the voice of experienced industry global organizations such as McDermott, to ensure that together we create useful, usable, and powerful software for our joint customer base."

¹ Lighthouse agreement: a lighthouse agreement refers to an agreement between a software company and a select group of early adopters or beta testers who agree to use and provide feedback on the company's software. This allows the company to refine the software before a wider release.

About McDermott

McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure-empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About Aras

Aras provides the most powerful low-code platform with applications to design, build, and operate complex products. Its technology enables the rapid delivery of flexible, upgradeable solutions that build business resilience. Aras' platform and product lifecycle management applications connect users in all disciplines and functions to critical product data and processes across the lifecycle and throughout the extended supply chain. Visit www.aras.com to learn more.