June 16, 2024

The Role of Predictive Maintenance in Oil and Gas Industry

oil and gass

The oil and gas industry uses big machines and huge machinery networks that are almost 10 to 20 years old in all the upstream, midstream, and downstream stages. 

The oil extraction process in itself is a tricky plus, not to mention the processing to get by-products. 

Now, the industry can not afford to lose the business because of the failure of machines. That is why reactive and preventive measures are taken to avoid any such failures. 

Now, reactive measures involve doing periodic inspections and maintenance to keep the machines operational. However, this reactive maintenance strategy always fails at the time of any unplanned downtime. 

However, preventive maintenance involves condition monitoring. It involves predicting equipment failures so that repair and maintenance can be scheduled. 

Now, one smarter way to perform preventive maintenance is to do predictive maintenance. 

If the oil and gas industry looks to minimize their operational costs and improve efficiency, then predictive maintenance is the best option. 

In this article, we will cover the benefits and role of predictive maintenance and the use of IoT in oil and gas industry. 

About Predictive Maintenance in Oil & Gas Industry

In the oil and gas sector, predictive maintenance refers to a proactive or preventive strategy that, when properly applied, can keep machinery and equipment from reaching the point of unanticipated failures or tragedies.

It is a data-driven approach that allows to perform maintenance just in time to avoid any unexpected downtime, thus increasing the lifespan of the machinery and equipment, thereby maximizing the profitability of the business. 

IoT-Based Preventive Measures

Preventive measures that are done with the use of IoT technology are called predictive maintenance. 

This is because proactive actions can only be taken when there is continuous communication between the critical assets. 

And this uninterrupted communication between the machinery and the maintenance team is only possible with IoT (Internet of Things). 

The predictive maintenance technology utilizes sensor data from various sources to identify patterns, including ERP and MES. IoT helps in real-time data collection and monitoring, thus automating the entire process. 

The predictive maintenance system monitors the wear and tear of oil and gas equipment on the oil rigs and displays the collected data on the dashboards. 

This way, the team can predict potential failures and the system even gives insights and recommendations for precise maintenance actions. 

A predictive maintenance system offers various analytical methods for early fault detection and diagnosis, data mining, and ML. 

Use Cases of Predictive Maintenance in Oil & Gas Industry

Predictive maintenance is still a relatively new technology in the oil and gas industry. But they do offer several applications if it’s deployed properly and successfully. 

Pump Condition Monitoring

The condition monitoring of pumps that carry oil and gas is very important. With a predictive maintenance system, the condition of the oil and gas pump can be identified early and addressed timely before it causes any failure. 

This will save a lot of time and money as unplanned outages and unnecessary repairs can be avoided. 

Vessel Maintenance & Monitoring

Vessel monitoring includes keeping track of all aspects of a vessel’s operation. Such as the movement of the vessel, its pressure, and the temperature of the fluid inside. 

The predictive maintenance system analyzes the data collected by the vessel monitoring sensors and can predict when a piece of equipment is likely to fall. 

Rig Monitoring

Predictive maintenance is carried out by monitoring the equipment on site. However, with the advancement of technology, virtual rig monitoring is now possible which involves carrying out predictive maintenance even remotely. 

Tank Pressure Monitoring

The predictive maintenance system also offers oil and gas tank pressure monitoring that helps avoid costly downtime and repairs. 

By using the smart IoT system, the user can identify potential problems that can interrupt the production flow. 

Machine Condition Monitoring

A predictive maintenance system can detect early warning signs of machinery failures and recommend taking corrective actions to avoid any unplanned downtime. Asset protection is another key point of consideration in predictive maintenance. 

To sum up, 

The use of predictive maintenance in oil and gas industry offers several benefits higher cost savings, improved operational efficiency, lower unplanned downtime, and environmental regulatory compliance. 
If you are looking to build a predictive maintenance system for your business, reach out to PsiBorg Technologies to get IoT Consulting on the same and have knowledge about how the system developed by them can be integrated into your business.