Technology is not enough. Streamlining asset integrity with other operations processes, while inspiring people to perform, is the best way for oil & gas companies to extract more value out of their asset base.
Abu Dhabi: While it is widely recognised that asset integrity improves profitability through increased uptime and lowered capital expenditure on operations, the means of designing and implementing an effective system for governing asset integrity has proven to be a key challenge for oil & gas companies in the Middle East.
According to DuPont Sustainable Solutions, overcoming this challenge can unlock significant value for companies, increasing competitive advantage and yield. For this reason, they brought together operational leaders from across the industry at the recent Operational Excellence Oil, Gas & Petrochemicals event to determine which strategies and approaches can deliver sustainable results.
“A robust corporate culture and consistent employee performance were identified as paramount,” says Stuart Grant, Asset Integrity Lead at DuPont Sustainable Solutions. “This is achieved by empowering employees with intrinsic motivation and the appropriate skills. While improvements are being made, 82% of companies still believed that a focus on compliance prevailed within their company. Compliance can deliver results, but not excellence.”
Another point that emerged in the discussion was the need to asset integrity processes to be fully integrated into a coherent management system, rather than being executed using a siloed approach. 50% of the attendees felt as though the maintenance team did not collaborate well with the operations team – an indicator of the level of integration of asset integrity into the production system.
“We at DuPont have found that significant value can be unlocked by pursuing integration; in our facilities, the implementation of an integrated production system has delivered over US$6 billion in savings, and a 47% increase in production since 1990,” continues Grant. “By designing and implementing a holistic production system which incorporates all aspects of production, companies can attain sustainable, synergistic and measurable results.”
Another point that was emphasised during the session was the need to employ a risk-based approach to asset integrity. “By creating a well-defined hierarchy of risk, it is possible for companies to better recognise, prioritise and mitigate specific problems or defects,” says Grant.
Finally, when asked where the biggest opportunity to improve operational excellence performance would be over the next five years, a majority of participants identified asset performance and reliability. “We in DuPont Sustainable Solutions agree that there is an enormous opportunity for companies in this area, especially within the Middle East. By pursuing integration and developing a robust culture, it is possible for companies to become best-in-class,” concludes Grant.
