oil production

Top Strategies for Maximising Assets in Oil Production

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The oil and gas industry is going through unprecedented changes during these uncertain times. It’s becoming more and more crucial for manufacturers to remain on top by prioritizing efficiency while keeping costs low. One way to do so is by maximizing assets and improving the utilization of such assets. The following are some proven strategies to do exactly that if you’re involved in the field of oil production.

Invest in the right equipment

Invest only in equipment and parts that have been proven to maintain the integrity of operations and ensure that everything is running smoothly and efficiently. Equipment like downhole tools, magnesium machining, and frac plugs are examples of state-of-the-art technology guaranteed to reduce production time, improve the accuracy of operations, and limit human errors. These kinds of investments ensure that you’re running at optimal levels.

Adjust your processes for maximum efficiency

Make use of reliable asset tracking systems to guarantee that you’re improving your manufacturing process and achieving maximum efficiency. This way, you can track the individual elements that make up your operation process. Once you receive the data, analyze it, and identify any choke points that need adjusting.

Facilitate an effective training program

Minimize errors and downtime by making sure that you have an excellent training program that supplies your workers with all the knowledge and skills they need to perform at peak condition. Provide easy to use tools in order to better address their needs and cut the learning curve in half.

Make sure equipment are already on-hand and easy to locate

Lots of time, money, and effort is wasted on the work floor when you don’t prioritize organization. You can reduce the misuse of time and effort by making sure that materials, equipment, and tools are already easy to locate, especially if you are operating in a large space.

Consider going mobile

The digital era has allowed for many processes to become remote and mobile. There’s no better time than now to make good use of portable devices to improve your operations’ data and reporting accuracy, boost production rates, and deliver only the best results in service of your operations’ bottom line.

Ensure that resources are readily available

oil rig workerEquipment, labor, and parts are necessary to effectively run a successful production process. You need to ensure that you aren’t lacking any resources by making use of predictive maintenance-based platforms. This guarantees that the appropriate equipment, labor, and spare parts are always available and ready to be used.

Reduce your step-up time

Minimize your set-up time by pre-scheduling your operations accordingly and avoiding any irrelevant set-ups. Another proven way to do this is by grouping together tasks that can already be carried out simultaneously.

Prioritize being proactive

Rather than being reactive, the only way to efficiently maximize your assets is by being proactive. This means looking into configuring processes in advance, documenting instructions, and generating automatic requests on your EAM/CMMS platform. These measures can significantly reduce downtime and boost productivity.

Incorporate asset management strategies

Asset management strategies can help you and your plant managers oversee and maintain your equipment without having to sacrifice safety or efficiency.

Despite the challenges faced by those within the oil and gas industry, there are still ways to come out on top. These practical tips can help you maximize your assets and ensure that you’re operating at full capacity.

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