Workover and intervention events within the Oil and Gas industry are unavoidable. Convert these downtime scenarios into optimized uptime and productivity.
From modernizing how the Oil & Gas industry responds to workover and intervention events, predicting (and avoiding) output disruptions, and ensuring operational productivity is optimized every single day, end-to-end maintenance planning and scheduling is essential for oil and gas operations.
Maintenance Planning and Scheduling Optimization technology enables Oil and Gas companies to maximize asset yield and lifespan by minimizing unplanned downtime, an increasingly expensive outcome for the industry.
In 2023, the number of producing wells in the US was 912,962, generating an average of 12.7 million barrels of oil equivalent (BOEPD), or 176 BOEPD per well.
With downtime in the industry averaging 32 hours per month, oil and gas facilities are losing the equivalent of 16.9 million BOE per month. While up to 75% of Oil and Gas companies still follow time-based or reactive maintenance, those that have evolved to a predictive maintenance planning and scheduling model are reaping the rewards.
We’ve compiled three examples of oil and gas MPS use cases utilized by IFS customers, including identifying common failure scenarios, service equipment before productivity declines, and create schedules that optimize productivity:
1. Identify common failure scenarios
Intervention events tie can include a one-off scenario or a common denominator identified and remediated before system-wide failures occur. IFS MPS fully digitalizes all aspects of the planning and maintenance environment for:
- Real-time data for a real-time oversight
- Pre-emptively identifying and investigating system-wide anomalies
- Taking action to convert a failure into a fix
2. Service equipment before productivity declines
A decline in productivity is often a precursor to asset failure. Powerful diagnostic tools such as IFS artificial intelligence are instrumental in these early stages by automatically identifying:
- Workers with the relevant qualifications and skills
- Their physical proximity to the site and transport recommendations
- Even the necessary tools and equipment to take action before productivity is impacted
3. Create schedules that optimize productivity
Productivity is a critical consideration when scheduling service cycles. By examining operational data, IFS MPS quickly prioritizes attendance at the top producing assets.
- Access vendor contracts to schedule the most cost-effective first
- Easily move operating sites between legal entities
- Separate and move serialized asset structures
- Provide accurate asset history and operational meta data
- Reduce asset liabilities through improved visibility and forecasting capabilities
Read our executive summary to learn why IFS customers achieve an average of:
- 22% increase in productivity
- 30% improvement in asset lifetime
- 25% improvement in maintenance productivity
- 40% reduction in production downtime*
- 30% increase in equipment utilization
* Due to asset availability
