Oil and gas assets are the most significant investments that any country can own. Asset management has to be done actively if the assets are to last the full length of the stipulated projected service. Currently, the use of new technology has made even easier to manage assets in various ways.
Utilizing Resource Management solutions
In most cases, assets are traded between different work sites or companies that operate under a parent company. These assets end up not being accounted for in the long-run and the use of resource management solutions will be significant in monitoring these assets.
Data Analysis and the Use of Predictive Maintenance
Most oil and gas sites are currently utilizing predictive maintenance to prevent any maintenance issues from happening. Previously, maintenance was performed after the happening of an incident.
Maintain Checklists and Monitor Equipment
Although there is advanced technology at these work sites, it is still prudent to have checklists to check on any issues with asset performance, and equipment should be regularly monitored in case of any unpredictable operations.
Ensure the Management of Non-Traditional Assets
Traditional assets tend not to be accounted for because they are not formally documented and not among the company’s protocols. It is significant to ensure that these traditional assets are well documented and are in good care and maintenance.