Lower-for-Longer Oil Prices Bring Renewed Focus to Asset Integrity Management at OTC

By Inderpreet Shoker

Category:
ARC Report Abstract

Overview

As mentioned in a previous report, ARC Advisory Group recently attended the 2018 Offshore Technology Conference (OTC) held in Houston. While the event's major focus was on technologies to help optimize up-stream exploration, drilling, and production; many suppliers also high-lighted solutions related to asset Drones Now Widely Used for asset integrity Inspections isrraim.JPGintegrity management (AIM).  Around the world, asset-intensive organizations are constantly seeking cost-effective ways to maximize asset output while maintaining asset integrity. This is particularly true in the asset-intensive oil & gas industry, which has endured stubbornly depressed oil prices over the last few years, resulting in cuts to both capital and operating budgets. 

The objective of AIM solutions is to ensure assets deliver the required function and level of performance in a sustainable manner without com-promising safety.  Faced with limited capital (and human) resources, oil & gas companies today are looking to get the most out of their critical assets by extending their useful service life.  As a result, AIM solutions are gaining popularity in this sector.

Asset Integrity Management Solutions at OTC

AIM was at the forefront of many discussions in the exhibition hall.  Several leading AIM suppliers participated and exhibited at the show and highlighted their advanced technologies and solutions.  A brief description of some of the key AIM-related trends ARC witnessed at OTC follows. 

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Keywords: Offshore Technology Conference, OTC, Asset Integrity Management, AIM, Drones, Inspection, Oil & Gas, Mergers, Acquisitions, Asset Management, ARC Advisory Group.

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