CASE STUDY

A Leading Oil and Gas Firm Improves Field Life of Assets By Implementing Asset Lifecycle Modeling Solution

Sep 22, 2016

Business Challenge

Extension of lifecycle of assets.

The client wanted to devise a mechanism to assess ways of effectively extending the lifetime of its assets, to ensure safe operations and improve return on investment.

Situation

Aging facilities.

The client was facing issues with aging facilities that were reaching end of their design life. They were looking for an efficient solution that could help them extend the service life of their assets beyond the actual planned time frame.

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Solution/Approach

Implementation of asset lifecycle modeling solution.

We devised a solution that integrated data from operations and project teams for assessment and development of actionable investment decisions. Our model allowed the client to rank different assets based on current working condition, and prioritize them accordingly. Client was also able to conduct forecast on the lifecycle OPEX to identify cost drivers and determine optimal investment levels.

Impact

Improved field life of assets.

Our solution enabled the client’s teams to accurately assess and forecast lifecycle OPEX and based on it, take timely investment decisions. They were able to successfully optimize the cost spend throughout the lifecycle of the asset, and improve profitability.

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