Posted under Blog by Rishi Bhojwani, Business Development Manager
With low oil prices here to stay for the foreseeable future and the forward curve of crude being relatively flat, change and disruption is required at all levels within the Oil industry.
The Liquefied Natural Gas (LNG) industry requires significant change as a result of unprecedented competition, exaggerated numbers of new LNG projects and new methods utilized by LNG operators to absorb the impact of current low oil prices and achieve profitable natural gas production.
The key for the Oil & Gas sector is learning how to produce more and make money at the current industry price levels. Thus, the importance of Maintenance Scheduling for Oil and Gas companies.
If your asset centric approach to planning and scheduling maintenance is done correctly and efficiently, it results in optimizing asset performance and uptime. This is paramount for the Oil & Gas industry to meet production targets, control costs and drive profitability which results in increased shareholder value.
Planning and scheduling are the anchors for any asset-intensive organization. Maintenance scheduling for Oil and Gas companies will be similar to other asset-intensive organizations but should be tweaked to align with the industry. Planners and schedulers must successfully juggle all planned, unplanned, and emergency work as it arises. To do this well, it is first necessary to have an understanding of each asset’s criticality, priority, downtime costs and impact on the business, including safety and compliance considerations.
Scheduling can make or break a maintenance organization. Good scheduling increases asset reliability and uptime. Poor scheduling increases costs and risks to the operation.
Although it is easier said than done, planners and schedulers need to be able to find, plan, and assign the right work to the right people at the right time, and complete the work in the right sequence. Proper planning and scheduling practices can help to achieve the following:
Today’s Oil and Gas industry must initiate an aggressive asset maintenance program that will protect and enhance the value of assets. If you have operations at a field or on a rig in remote locations, downtime can be especially detrimental to your profitability. By implementing the above techniques to optimize your asset maintenance schedule, you will maximize equipment utilization and minimize the risk of a break down during critical operational periods. Additionally, standardizing your scheduling helps ensure you remain in compliance with environmental and safety rules and regulations for both planned and unplanned work and thus helps you avoid fines and audit related downtime. Oil and Gas is an asset intensive industry, and equipment utilization is key to profitability.
If you’re interested in learning more about maintenance scheduling best practices, click here to read our Planning and Scheduling Best Practices white paper.