A robust and well-thought-out maintenance strategy forms the backbone of optimal performance for any Oil and Gas facility. Maintenance plays a crucial role in plant operations, yet its impact is often overlooked and difficult to quantify. Many facilities have limited maintenance goals that only focus on a few aspects of plant performance. However, equipment upkeep has far-reaching effects. Both tangible and intangible benefits can be derived from plant maintenance, and objectives must go beyond just preventing breakdowns and downtime. This article examines ten core objectives that should be incorporated into your maintenance strategy.

1. Reduce breakdowns  

Neglected equipment is at a higher risk of malfunctioning. These breakdowns can be costly, not only resulting in reduced productivity but also in capital expenses. A report by IndustryWeek (in partnership with WSJ and Emerson) estimates that manufacturers suffer a yearly loss of $50 billion due to unforeseen downtime. The study further highlights that the primary reason for such downtime is aging equipment. As equipment is more susceptible to breakdown as it ages, it is essential to prioritize maintenance to avoid costly downtime.

2. Reduce downtime 

Did you know that a study by Aberdeen found that equipment downtime can cost an average of $260,000 per hour? While there can be several causes of plant downtime, equipment breakdown is a primary factor. Reducing downtime is a crucial objective of plant maintenance, and most companies incorporate it in their strategy. However, various direct and indirect factors can contribute to downtime, often needing to be adequately incorporated. For example, a spare part appearing in SAP but placed in the wrong bin in the physical warehouse can increase downtime. It is crucial to identify all the factors contributing to downtime and address them as part of the maintenance strategy.

3. Improve equipment efficiency 

We tend to think whether the equipment works correctly or not in black and white. However, the truth lies in the gray areas. Even if a piece of equipment functions, it must operate at its full potential. For example, if a machine is only running at 50% capacity, it essentially has 15 days of downtime in a month. Regular maintenance can increase equipment efficiency, improving overall production line efficiency. By monitoring the decline in equipment efficiency over time with periodic maintenance, we can better understand the impact of maintenance. Imagine how the cumulative effect of multiple equipment operating below expected efficiency levels can significantly impact the plant's overall performance. It's essential to consider the scale used to define plant maintenance objectives.

4. Improve inventory control 

It is only possible to have proper maintenance in place with accurate inventory control. Maintenance inventory is a significant chunk of the overall plant inventory. It is not uncommon to see millions of dollars locked in maintenance inventory. Having a proper maintenance strategy in place will lead to better inventory control. The maintenance strategy should drive inventory planning. With a maintenance strategy, it becomes easier to determine which spare parts to stock and in what quantities. As a rule of thumb, the better the maintenance planning, the better the inventory control.

5. Equipment cost reduction 

Effective maintenance can yield cost reductions by extending the lifespan and optimizing the performance of existing equipment. For example, through proper upkeep, equipment can function an additional 40% in duration, significantly lowering costs. Furthermore, with adequate maintenance, It is possible to meet all demands with just one piece of equipment instead of purchasing additional units.

6. Maximize production 

Improving maintenance directly impacts production as it increases the efficiency of equipment and assemblies, leading to maximum production. If the efforts to develop and implement maintenance strategies do not result in increased production, then it's necessary to reevaluate those efforts. 

7. Minimize energy usage 

The often-forgotten fact is that every piece of equipment consumes energy and over time, its energy efficiency decreases. Simple maintenance activities like greasing can significantly boost the equipment's energy efficiency. Often, it is assumed that avoiding downtime and breakdowns is a sign of successful maintenance. But in reality, successful maintenance goes a level deeper and can significantly impact the plant's energy consumption. 

8. Optimize the useful life of the equipment. 

As elaborated in point no. 1, aging equipment is a significant contributor to breakdowns. One cannot stop equipment from aging, but a correct maintenance strategy can maximize the lifespan of the equipment and enhance its performance throughout its useful life.   

9. Provide budgetary control 

In summary, a thoughtful maintenance strategy allows for much better budgetary control. Maintenance impacts multiple aspects - from energy usage to inventory control to purchasing. By thoroughly designing, implementing, and monitoring a maintenance strategy, valuable insights can be gained, leading to better budgetary control. 

10. Safety

All maintenance efforts, in one way or another, impact the plant's safety. There is a significant overlap between your Plant Maintenance Objectives and the EHS goals. It is essential to make at least some of your EHS goals a part of your plant maintenance objectives. 

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