Ocyan, a company in the oil and gas sector, has opened applications for the fifth edition of the Ocyan Waves Challenge, a program to connect startups to solve the company's internal challenges.

This year, interested companies will be tasked with testing the solution for two challenges identified in recent months and prioritized by Ocyan: automation in the refund process and intelligent document validation for offshore shipping.

After the end of the registration period and the mapping of startups (scouting) on June 18th, the Ocyan Waves Challenge will select the companies that will present their solutions during the pitch day (June 30th), when they will compete for a place in the immersion week in July. 

The startups with the best track record will be invited to the pilot project phase to validate their solutions. This will be followed by an evaluation of the results and then, in December, a decision on whether to continue with the projects that have the greatest potential to solve the challenges. 

The challenges 

The first challenge is to overcome the use of manual methods and low automation in the reimbursement process, which leads to slow approvals and a high consumption of operational hours by the company's compliance team, as well as increasing the risk of errors and undue payments. 

The aim is to develop an automation solution that uses image recognition technology and PDF documents to correctly identify and classify the amounts to be reimbursed. 

"This solution should significantly reduce processing time, minimize errors and ensure adherence to company policies, increasing operational efficiency and reducing costs associated with reimbursement errors," says Amanda Galvão, innovation specialist at Ocyan.

The second challenge is to modernize the logistics of the documents needed to embark people offshore, which are subject to strict demands from contractors regarding the quality of the images of the documentation, sent via email. The manual process results in delays and non-compliances, such as folds or other imperfections in the documents. The rejection of these documents prevents the crew member from boarding, generating additional payroll costs and the need to hire replacements to fulfill the contracts. 

"We're looking to develop an automated solution that allows users to upload documents, with an artificial intelligence system that automatically identifies imperfections and requests corrections, guaranteeing the standardization of documents without the need for additional instructions," explains Galvão. 

Programs with market recognition

Ocyan Waves is Ocyan's open innovation vehicle that seeks to stimulate the company's relationship with the startup ecosystem, accelerating the innovation process through two programs: 1) Challenge, which seeks plug-and-play solutions to internal problems by hiring startups; and 2) Booster, which aims to accelerate and partner with startups for co-development and access to new offers for the O&G market. 

Launched in 2019, the Ocyan Waves Challenge was also held in 2020, 2021 and 2024, and the Booster in 2022 and 2023.

During this period, the programs have mapped more than 800 startups, with more than 30 pilot projects carried out, 70% of which have gone on to the contracting stage.

 With the results obtained, Ocyan has been recognized, since 2021, among the 100 companies that best relate to startups according to the TOP Open Corps Ranking, organized by 100 Open Startups. 

In 2023, it was ranked as the second best company in the oil and gas market and was recognized last year as one of the five companies most engaged in open innovation practices in the sector. 

For the startups, the program is an opportunity to test their technology in a real environment and learn about the problems of a large company in the sector, as well as having the possibility of being hired as a supplier or co-developing a product with Ocyan.