EDMONTON, ALBERTA, CANADA / ACCESSWIRE / February 24, 2020 / OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX-V:OSS) (OTCQB:OSSIF) is pleased to announce that representatives from the Company's wholly owned operating subsidiary, OneBridge Solutions Inc. ("OneBridge"), presented a white paper profiling Statistical Analysis of Dig Operations (the "Study") to pipeline industry professionals at PPIM 2020, the industry's primary forum devoted exclusively to pigging for maintenance and inspection, as well as pipeline integrity evaluation and repair. The white paper confirms the high value proposition of utilizing OneBridge's technology and products.
The Study was compiled by OneBridge employees Dr. Yevgeniy Petrov, Jordan Dubuc, Michael H. Murray and Tim Edward and based on statistical analysis performed by OneBridge's Cognitive Integrity Management ("CIM") solution. Data used for the study involved 1,074 in-line inspection ("ILI") runs conducted between 1991 and 2017, on pipelines with installation dates ranging from 1920 to 2016 and more than 23,000 digs that were performed between 1959 and 2019, resulting in 171 miles of pipeline excavations in aggregate.
Based on historic dig records, we determined whether a productive (i.e., a necessary dig) repair was performed or if the pipe was simply recoated without additional action taken (an un-necessary dig) to calculate the "Repair Fraction", as an assessment of the overall effectiveness of a dig program. With some variations, the Repair Fraction for the data used in this study was mostly consistent between 40 to 60% of digs completed.
The capability of CIM to assess pit-to-pit anomaly growth over multiple ILI runs enables pipeline operators to measure effects of specific factors to improve the Repair Fraction through identification of opportunities to optimize dig selection criteria to improve integrity management decision-making. For example, anomalies with higher growth rates should merit a repair more often than those with low growth rates. Whereas the CIM pit-to-pit growth model does exhibit this trend, the "half-life"-based model that is used by certain operators today shows a flat or negative correlation between Repair Fraction and anomaly growth, indicating that the half-life model does not as accurately identify anomalies that are most risky or in need of repair.
The Study concludes that OneBridge's new tools and methodologies made available through advances in data science and machine learning allow clients to improve their integrity management programs. With CIM's structured approach to integrity management decision-making, more rigorous management and analysis of integrity data and the use of modern tools which leverage the computational power of the cloud provide significant opportunity for deeper analysis and inspection of integrity management programs. The types of analysis presented can guide operators toward a more effective integrity program and allocation of dig program funds, and also potentially reduce overall risk by improving the selection of prioritized digs.
"This is our first such quantifiable study that has been published and we are in process of developing additional models where the learnings will be shared across our customers from both a risk and financial perspective. This would not be possible without having first built our CIM platform to aggregate big data from our customers and prospects, which involves tens of thousands of miles of pipeline data and learnings from more than 50 million features," said Tim Edward, OneBridge President. "Even a 1% delta in improving Repair Fraction is significant, and we believe our customers may see efficiency gains in the 10 or 20% range, which will greatly improve their risk and financial metrics through use of CIM."
"This was our fourth attendance at PPIM, which has been an annual occurrence since we founded OneBridge," said Brandon Taylor, President and COO of OneSoft. "We met numerous clients, prospective clients and partners during the week who have been monitoring our progress and considering adoption of our CIM platform. New technology alternatives are typically showcased at PPIM and we remain confident that we are leading in innovation for the industry and can continue to scale revenue and growth based on the solid product and business strategies that we have developed to date."
The white paper was presented as part of the Pipeline Pigging and Integrity Management ("PPIM") conference program held in Houston, Texas February 17-21, 2020, the oil and gas pipeline industry's primary forum devoted exclusively to pigging for maintenance and inspection, as well as integrity evaluation and repair. Established in 1989, PPIM is celebrated its 32nd anniversary in 2020, with a global attendee presence. For more information, visit www.clarion.org/ppim/ppim20/index.php.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft [NASDAQ:MSFT] Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft's wholly owned subsidiary, OneBridge Solutions Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
For more information, please contact
Dwayne Kushniruk, CEO
Sean Peasgood, Investor Relations
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SOURCE: OneSoft Solutions Inc.