From Prevent to "Predict & Prevent (PnP)": Optimizing oil and gas Asset integrity decisions

EasyChair Preprint 202

Abstract

Asset integrity decisions for (production) critical equipment are mostly qualitative and experience-driven. Preventive maintenance strategies are dominat-ing in oil and gas asset management for many years. Record low oil prices com-pelled the industry to undergo major organizational and technical transformations. Companies need to find better and effective ways of improving preventive mainte-nance strategies. One of the main challenges include doing minimum maintenance, keeping maintenance budget low without compromising safety, availability and re-liability requirements. Oil and gas industry is keen in finding innovative solutions to optimize maintenance strategies. As a result, organizations are adapting to intel-ligent life cycle analytical methods for running asset in optimal and smarter manner. Apply Sørco's Predict and Prevent (PnP) methodology uses equipment (As-is) con-dition, combined with maintenance history data analytics to precisely predict up-coming maintenance requirements. The results of PnP analysis provide decision ba-sis for in-time asset decisions for repairs, inspections, spares, overhauling and equipment modifications. The methodology combines integrity-engineering exper-tise with life cycle predictive analytics. Results from business cases reveal useful output that provide basis for smarter asset integrity decisions.

Keyphrases: Asset Maintenance, Predictive technologies, Risk and Reliability

@booklet{EasyChair:202,
  author    = {Jawad Raza},
  title     = {From Prevent to "Predict & Prevent (PnP)": Optimizing oil and gas Asset integrity decisions},
  doi       = {10.29007/257x},
  howpublished = {EasyChair Preprint 202},
  year      = {EasyChair, 2018}}