Risk-Based Maintenance Drives Savings

(Global) ILR analysis of FPSO operations

New technology could save offshore operators millions in maintenance costs over an assets’ life, according to energy consultancy Lloyd’s Register.

The findings were based on analysis of work carried out by floating production storage and offloading, or FPSO, vessel operators, and suggested that as much as 40 percent of maintenance work was wasted, meaning operators could save on average about £600,000 per asset each year.

“There is a perception that implementing the methodologies that can actually help optimize maintenance activities is time consuming, complex, cumbersome and costly. This attitude, however, only drives a vicious circle of tackling small issues, instead of designing a systematic, informed and optimised maintenance strategy. This approach would see operators save significant time and money longer-term,” said Victor Borges, Lloyd’s Register’s expert voice on FPSO maintenance optimisation.

The firm suggests that a risk-based maintenance approach using software such as its asset performance maintenance software, AllAssets, can better reflect the ever-changing nature of offshore operations than relying purely on original equipment manufacturer guidelines.
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