Predictive Maintenance Importance Increases
The importance of predictive maintenance has increased in oil and gas operations against the backdrop of aging infrastructure and volatile crude pricing, according to data and analytics company GlobalData.
The company, which released a report on predictive maintenance late last week, said that study revealed the adoption of predictive maintenance technologies is helping companies cut back on operational expenditure by optimizing maintenance scheduling and driving productivity.
GlobalData’s latest report outlined several “key players” in predictive maintenance. These included the following:
Oil and Gas Companies
- Royal Dutch Shell
Oilfield Service Providers
- GE-Baker Hughes
- Aker Solutions
- Weatherford International
Predictive maintenance is a “fairly mature” concept and has been widely deployed in the oil and gas industry over the last 20 years, GlobalData confirmed. The company highlighted that predictive maintenance tools evaluate the condition of operational equipment and predict maintenance requirements in order to achieve “optimum performance” and prevent malfunction.
“The insights gained from predictive maintenance program enables decision makers to schedule maintenance activities without disrupting routine production operations,” Ravindra Puranik, oil and gas analyst at GlobalData, said in a company statement.
“These insights can also be used to evaluate if any machinery or infrastructure requires a major overhaul on priority, and accordingly decide whether to use the available capital expenditure for new projects and expansion plans or divert it for the upgrading of existing facilities,” he added.
“Recent advancements in cloud-based data analytics and the rise of the digital twin in oil and gas operations are extending the boundaries of predictive maintenance technologies, making it a reliable tool for monitoring asset integrity,” Puranik continued.
GlobalData describes itself as a trusted, gold standard intelligence provider to the world’s largest industries. The company, which was formed in 2016, has a head office in London, as well as several locations all over the world.
Earlier this month, the company revealed that Shell is set to have the largest abandonment and decommissioning expenditure liability of UK operators in producing UK oil and gas developments.
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