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Asset Management Asset Management

An increased focus on asset orders and even parts replaced over integrity management (AIM) and its lifecycle. Only then can manage-

A risk management means that ment make intelligent decisions on more rig owners and operators the actual level of asset integrity of are reassessing their investments assets in the feld. And that, all by in enterprise asset management itself, can contribute to ROI from (EAM) software to ensure they the standpoint of risk management.

have applications in place that are properly implemented and Inventory management functional, help them ensure Selecting EAM that offers strong compliance with regulations, and functionality beyond maintenance – adopt AIM best practices. specifcally in the area of advanced

EAM software features can play inventory management – will drive a role in software project return more rapid returns.

on investment (ROI) for drilling EAM with strong purchasing contractors as can specifc, discrete functionality can help an offshore steps taken during implementation. drilling platform owner improve

The following concerns ought to be procurement processes and addressed by EAM software in the strike a balance between having offshore oil & gas industry: excess safety stock on the rig and n Serialization experiencing downtime when a n Inventory management part is needed but not available. n Cash and contract management Establishing this balance is critical n AIM and risk management when considering the isolated n Support for industry standards nature of drilling rigs and vessels, n Document management for the which would tend to indicate asset lifecycle that more stock is better than less. n , ease of implementation Usability Conversely, the physical real estate n Offshore/onshore replication. to keep spare parts is limited, and as is the case with inventory in any

Serious about serialization business environment, too much

The offshore industry needs to track inventory ties up operating capital individual pieces of equipment over that could be used to address other their lifespans at a very granular priorities in the organization. level. As each piece of equipment One factor of inventory is deployed, a comprehensive management that is important for record of service, repair, overhaul the offshore industry is the ability and other work performed upon to share inventory across multiple it, is necessary. This requires locations in a given region. Whether the equipment be issued a serial it is the Gulf of Mexico or the North number that the various work Sea, platform operators and owners orders and project documents can are often involved with multiple be attached to. drilling projects in a region. This

Consider the level of documen- really amounts to a multi-site tation that is required for a key com- arrangement, which some EAM ponent like a blowout preventer. applications can handle more easily

Imagine that BOP being deployed than others. It also requires a unique on a rig for eight months before master ID for part identifcation. If being moved to shore-based stor- each location is using a different age. A year later, if it is redeployed language to refer to parts, true on another rig, managers must be visibility and effectiveness is able to see the traceability/serializa- compromised. EAM for this tion record of that BOP. It is cru- industry must include standardized cial that before the BOP goes into part ID so management can reduce operation, there be a full history of the ongoing investment required to inspections, work history, transport manage the asset. orders, preventive maintenance If you look at a feet of ships or oedigital.com oedigital.com April 2013 | OE 3737 oe_rigassetmgmt.indd 37 4/1/13 2:46 AM