A study of how asset management and condition based maintenance can improve utilization of assets involved in the O&G industry on the NCS
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In the highly competitive and customer oriented oil and gas industry on the Norwegian Continental Shelf, organizations experience increasingly higher demands for efficiency and optimization of performance. The market conditions have in fact become so unforgiving that only minutes of downtime of equipment could result in substantial losses of income. Thus it can be understood that the ability to manage and operate complex offshore assets in such a way that they can deliver their functional services to the customer near 100% of the time throughout their lifecycle are fast becoming a necessity for today’s organizations. This thesis seek to find actionable solutions to what steps the actors may take in order to retain and maintain a competitive advantage in the complex industrial environment they are involved. The subject of asset management, and more explicitly the implementation of an asset management strategy to organizations, have been studied and identified as one important element that may serve as a facilitator towards obtaining this goal. The thesis presents some key factors that needs to be considered by organizations that want to implement such a strategy for managing their assets in new ways that can enable improved asset utilization. With the rapid development and increasing availability of novel and advanced technological solutions with respect to information communications technology new possibilities for managing and operating complex offshore assets are presented. This development have accelerated throughout the last decade, and resulted in a paradigm shift, culminating with the introduction of integrated operations. The introduction of virtual organizations, where traditional organizational boundaries and limitations are erased also open up for new possibilities in relation to implementing novel technological solutions that can perform advanced diagnostics and prognostics for determining the expected lifetime of equipment. This thesis presents an introduction to the terms condition monitoring and condition based maintenance, and contextualize these towards the highly relevant technology of integrated operations. A case study of the drilling contractor company COSL Drilling Europe is presented, with the goal of identifying improvement potentials related to their approach for managing the asset COSL Innovator. A review of the current implementation of condition monitoring of equipment, and especially the application of condition based maintenance have been performed, with the aim of detecting how an extended implementation of this strategy can improve the utilization of the asset in the future. This thesis is aimed at providing useful insight towards how asset management practices and the application of novel technological solutions related to condition based maintenance can provide improved utilization of assets involved in the oil and gas industry on the Norwegian Continental Shelf.
Master's thesis in Offshore technology : industrial asset management