Key Asset Management trends in Oil & Gas Industry
Within Infosys, we have a renewed focus on Energy Industry which primarily involves Oil & Gas companies for us. For some time, we have been working on finding out key trends and defining strategies for next level of growth for us in this area.
Asset Management being my key research area, I took a holistic approach and reached out to many of our project teams working for Oil & Gas clients, colleagues and researcher in this area. The result was not something new and I guess majority of these trends are often seen in Asset Intensive industries. However, some trends certainly have critical importance for Oil & Gas industry.
Predictive Maintenance: Though predictive maintenance is, and continues to remain, one of the most important factors for all asset intensive organizations, but it is probably the most important and critical for Oil & Gas Industry. Though, majority of companies have some sort of predictive maintenance programs in place, but that is in rudimentary stage and is limited to monitoring one or two parameters in offline mode. This approach is more of a postmortem approach, in which maintenance team comes to know about the problem after it has occurred. They look for capturing more parameters in real time and automated mode. This gives them ability to take decision on real time basis and prevent equipment failure. Further on top of this, organizations also look for applying various analytics to predict failures in advance. Though, there is not much work done in applying advanced analytics for predicting asset failure, organizations are trying to move in that direction.
Managing Non-traditional Assets: Organizations are considering bringing more asset classes under their asset management strategy. Beyond traditional revenue generating assets like Drill bit, mud pumps, pipes, tubes etc, organizations look for bring other "enabler" assets like laboratory equipments and tools etc under their maintenance planning. An example for such case could be defining a schedule for regular calibration of laboratory equipments and tools.
Fleet Asset Management: Oil & Gas companies especially in Exploration & Production and oil field services use big fleets to transfer assets and tools from one place to another. These fleets require regular maintenance as a break down may result into business losses, hence a considerable focus on preventive maintenance of these fleet assets. Some companies are also considering managing these fleet operations using GPRS and Telemetics technologies. The requirements are quite similar as adopted by fleet management organizations.
In nutshell, these trends result into reducing non-productive time (NPT) of revenue generating machines and getting more of the assets. In Infosys, we are working with our clients to help them in achieving their goal of reduce NPT of their assets. More details about our offerings and solutions can be found at http://www.infosys.com/industries/energy/Pages/index.aspx