Remote - Spring 2014 - (Page 11)

Feature Article Using PAS 55 to Manage Oil & Gas Assets Kevin Price, Product Director Infor EAM Asset management is evolving at a rapid rate. Formerly relegated to the maintenance and repair of faulty equipment, today's asset management is defined by proactively cutting costs and improving profits, service, customer satisfaction, safety and adherence to corporate and social initiatives. However, the oil and gas industry struggles with unique asset management challenges that traditional solutions often fail to address. Plant shutdowns and manual interventions frequently hinder efforts to increase asset life, as do ineffective communication and collaboration across teams and systems. In today's post peak-oil era, operating and economic conditions are more risky and highly dynamic than ever before, so plants must equip themselves with the right tools to ensure they can thrive in such an environment. Oil and gas companies also face increased regulatory pressure to measure, report and reduce greenhouse gas emissions, as well as eliminate energy waste. Many companies must also cope with an aging workforce, as well as a chronic shortage of key skills, as more employees begin to retire. At the same time, the techniques, technologies and locations necessary to exploit remaining oil and gas resources are becoming increasingly complex and more difficult to manage. In many instances, the infrastructure is aging, which can create additional issues at a time when achieving a higher return on capital assets is more paramount than ever. Finding the Right Solution for You The oil and gas industry is uniquely dynamic, so when evaluating which enterprise asset management solution to implement, plant managers should first identify their specific needs and then determine which offering is the most comprehensive. It's also a good idea to identify any potential future needs early in the process, if possible. Luckily, some product suites offer built-in predictive maintenance, performance monitoring and alerting, as well as the inclusion of energy consumption, costs and efficiency into asset performance management. Given that many assets often reside in geographically dispersed locations, being able to gain efficiencies in the field at the point of performance is also of the utmost importance for plant managers and asset owners alike. This is perhaps not as essential as the ability to adapt to easily address businessspecific process requirements, which are unique and constantly changing. While many asset management solutions offer functionality to increase and improve asset reliability, few also ensure operational compliance and safety, as well as energy efficiency and environmental compliance. Other factors to consider are how effectively the solution will maximize user productivity, how quickly it can be implemented, how effectively it can manage assets and how it can help factories increase their ROI. Asset management can pose unique and complex challenges to any industry, and the oil and gas business is no exception. But, by implementing a strategy based on the PAS 55 guidelines and a solution that best fits your organization's needs, you will have the framework to succeed. For more information visit www.infor.com. How PAS 55 Can Help You By implementing an intelligent asset management strategy and solution, organizations can improve collaboration, proactively monitor and manage assets and their condition, and effectively conquer these challenges. The Asset Management Publicly Available Specification (PAS 55), published in 2008 by the Institute of Asset Management in collaboration with the British Standards Institute, provides objective asset management practice guidelines across 28 categories, from lifecycle strategy to everyday maintenance against the parameters of cost, risk and performance. The PAS 55 specifications enable the integration of all aspects of the asset lifecycle, from the first recognition of a need, to design, acquisition, construction, commissioning, utilization, operation, maintenance, renewal, modification and ultimately, disposal. It also provides a common language for cross-functional discussion, as well as provides the framework for understanding how to optimize the many individual parts. Beyond developing a framework for asset management, plant managers must be equipped to secure feedback from asset owners, securing necessary two-way communication for their strategy to succeed. By establishing objectives, implementing processes, evaluating the results against objectives, and applying actions to the outcomes, they can guarantee continuous improvement. Just a Piece of the Puzzle Standards such as PAS 55 are a significant step in achieving the culture necessary to underpin asset management change and performance improvement. These standards also provide a unique answer to a potentially complex discipline, helping organizations to realize the benefits of effective asset management and raising standards across the industry. However, these standards are just a piece of the puzzle, they do not represent the skills necessary for asset reliability and availability. Solutions must be implemented to process information and keep an operation available, reliable and safe. These systems, along with the coordination of the staff, are crucial in cutting costs, improving decisions and boosting productivity. Remote Site & Equipment Management \ Spring 2014 11 http://www.infor.com http://www.lemosint.com http://www.lemosint.com

Table of Contents for the Digital Edition of Remote - Spring 2014

Editor's Choice
Top 10 Security Tech Trends for 2014
Facility Realities: An Inevitable Trend - Centralized Facility Management (CFM)
Unified Push-to-Talk: The Future of Remote Site Communications
Using PAS 55 to Manage Oil & Gas Assets
Wireless Field Area Communication Networks for Digital Oil & Gas Fields
100 Tunnels Under Control
Unique Spacer Cable System Powers Renewable Energy Plant Pipeline
Internet of Things North America
SCADA
Networking
Security
Onsite Power
Industry News

Remote - Spring 2014