ADOPTING DIGITAL TOOLS FOR LIFECYCLE ASSET INTEGRITY MANAGEMENT

Background Information – The oil and gas industry consists of a $3.4 trillion asset base (Deloitte, 2017). Whilst many assets are ageing and the average workforce age is >40 years old (OGUK, 2021), there is still a demand for hydrocarbons with increased requirements for productivity, CO2 emission reductions and cost savings (Aramco, 2022).Due to the age of some assets, the use of “4th Industrial Revolution” type digital tools in use may be partial and not integrated, or non-existent due to a mixture of fluctuating budgets (due to oil prices) and skill sets of personnel in these organisations.Rationale for Project Work – An effective asset management system:· Facilitates an organisations achievement of its purpose, mission and strategic goals;· Ensures the organisation manage their assets based on risk, cost and performance trade-offs in an organised way;· Demonstrates to internal and external stakeholders; the organisations intention and capability to manage assets properly.As an example of one technology, artificial intelligence machine learning has been utilised to trend and detect failures in multiple sets of equipment before they occur to allow for corrective interventions (Aramco, 2022). Organisations can therefore derive greater value from their assets by utilising digital tools to best manage the asset on a lifecycle risk, cost and performance approach.Aim and Objectives –The aim of the Project is to:· Identify three digital tools/solutions which offer the greatest benefit and ease of implementation for the oil and gas industry.Objectives:1. Identify the main digital tools / products/ solutions which are currently in use in the marketplace. Approx. 6-10 systems.2. Examine the benefits and drawbacks of each system from an asset management perspective.3. Collect feedback of these digital tools from Suppliers and Users.4. Recommend the three best suited systems.