7 Ways to Reduce Downtime in the Oil & Gas Industry
Plant downtime can be very critical in the operational costs and productivity of an operating organization in the Oil & Gas industry.
What this means is that effective ways need to be considered to minimize this particular downtime to sustain competitiveness and operational efficiency.
The economic consequences of prolonged downtime
This could be unplanned shutdowns or those that extend beyond the expected timeframe, and these surely will have an economic consequence on the Oil & Gas sector.
Direct costs include production losses estimated at tens or hundreds of thousands of euros per hour depending on the size of the plant.
Indirect costs are contractual penalties due to late delivery, extra costs related to emergency specialized labor, and possible damage to the company's reputation.
This, in turn, can affect the supply chain, and a ripple effect might be felt throughout the industry.
Finally, the repercussions of such actions on the share value of listed companies should not be underestimated, as news about sudden shutdowns may have an immediate effect on share value.
Top 7 Ways to Reduce Downtime
Following are seven successful strategies for reducing downtime:
• Advanced monitoring systems: leading edge control systems permit real-time monitoring of critical plant parameters. With the assistance of smart sensors, integrated with IoT platforms, it is possible to identify problems early to prevent unplanned disruptions.
• Predictive maintenance by data-driven insight: the advanced analytics and machine learning enable foreseeing looming failures by considering the operating patterns of equipment. The proactive approach thus enables scheduling the maintenance interventions at the most opportune times and reduces unplanned downtime.
• Installation of quick closures: the adoption of new-generation quick closure systems (see QOC Solutions website) allows a strong reduction of the access times for controls and maintenance. Besides guaranteeing safety, these devices allow quick and more effective intervention on the machinery.
• Standardization and digitalization of operational and maintenance procedures: this reduces human error and hastens interventions. Technical documentation and checklists for operation are handled much better on dedicated digital platforms.
• Continuous training of personnel: only a well-trained team can minimize the downtime of the turbine. Regular training regarding new technologies or procedures for operating will surely facilitate faster and more effective interventions, if that becomes necessary.
• Intelligent spare part management: the best spare parts management system, with the help of predictive software, ensures that the most important parts are available at the right time without long waits for procurement.
• Modernization of pbsolete plants: regular renewal plans for obsolete components and systems with more modern and reliable ones serve to reduce the risk of unexpected failures. This includes installation of advanced control systems, upgrading of critical infrastructure.
Operator Safety: Absolutely First
The safety of personnel around maintenance operations and plant restarts is such that it cannot afford to be sacrificed by the urge to get back into production.
Interventions under emergency conditions or under pressure to minimize losses of downtime increase substantially the risk of accidents.
It is important not to take any shortcuts in the lockout/tagout operations and to use proper personal protective equipment, respecting times for safety checks.
A work environment with speed over safety produces tragic consequences considering the potentially hazardous nature of fluids and gases present in Oil & Gas plants.
This calls for great safety methods to be put into place, and personnel must be properly trained not only in regular operations but also in how to conduct emergency procedures with safety always foremost and never compromised for production.
There are considerable strategies of initial investments, but their results in terms of reduced downtime and increased operational efficiency amply justify the effort.
Success is all about adopting an integrated approach that successfully mingles technology, training, and optimized operating procedures together.
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