HAVE YOUR TURNAROUNDS BEEN SHUTDOWN IN THE OIL PRICE DEPRESSION?
After 24 months of the worst oil price depression in living memory, the global industry is reeling from a quarter of a million job losses and no end in sight for oil price lows.
A symptom of this industry-wide malaise has been the squeeze on integrity and maintenance activities across the board, with pressure heaped on turnaround crews to do more for less with a diminishing pool of available talent.
In this infographic, we take three years of statistics from the shutdown and turnarounds space to track how fortunes and attitudes have changed in the upstream and downstream sectors. With a greater burden on turnaround experts than ever, have things got better or worse in the last year?
Extending intervals between shutdowns is the Holy Grail for people with the headache of managing a large, complex, critical plant that’s continuously running. This has been further heightened by the lamentable slide in oil prices in the past 18 months.
In the following interview, we speak with, John Woodhouse, a veteran in the asset management field about a methodology that, when properly implemented and understood, could cut shutdown frequencies by 50 per cent.
Oil & Gas IQ have surveyed a number relevant individuals within the industry and put together three years of statistics from the shutdowns and turnarounds space. The results demonstrate that attitudes are evolving in the low oil price continuum and challenges increasingly lie in maintaining efficiency during turnaround delivery and hiring the right people to complete the task in a timely manner.
As operators contend with narrow profit margins, volatile markets and the tightening noose of emissions control optimising, the strategic and diligent planning of a shutdown and turnaround strategy is essential. Oil & Gas IQ spoke to industry experts to hear their thoughts on the benefits and drawbacks of strategic long-term shutdown planning. The consensus was that long term shutdown strategies have numerous benefits in comparison with more short term strategies.
Take a look at the 15th Annual Shutdowns and Turnarounds Summit Attendees so far!