Predictive maintenance tools will become more widespread across critical infrastructure in the oil and gas industry over the next decade, according to GlobalData.
Unplanned shutdowns due to equipment failure can incur immense cost penalties for oil and gas operators.
According to GlobalData’s report, Predictive Maintenance in Oil and Gas Industry – Thematic Research, predictive maintenance includes condition monitoring technologies that collect, store, and analyse structural and operational data of key equipment in the oil and gas industry. Through the analysis, actionable insights are derived concerning the health of the equipment to estimate its lifespan.
This helps to schedule maintenance and equipment replacement exercises in a way that will have a minimum impact on oil and gas operations.
Maintenance strategies in the oil and gas industry have come a long way from their early days in the nineteenth century. They have evolved from a reactive to a preventive approach to ensure continuous operations along the supply chain. The economic urgencies and technological support available at that time have shaped these strategies and will continue to do so in the future.
Ravindra Puranik, oil and gas analyst at GlobalData, commented, “Heavy machinery deployed at oil and gas facilities is expected to operate reliably and efficiently for several years. To ensure longevity, it is necessary to conduct maintenance tasks for keeping the equipment in the best working condition. Timely maintenance also helps prevent expensive repair works and unplanned production outages.”
Unplanned shutdowns due to equipment failure can incur immense cost penalties for oil and gas operators. The after-effects of equipment breaking down can be far-reaching, beyond just economic losses. For instance, the Norilsk diesel oil spill in Russia in May 2020 led to rivers in the vicinity being polluted with 17,500 tons of diesel oil. Such incidents highlight the need for predictive maintenance in the energy sector.