Mitigate turnaround production loss with data-driven, actionable insight and recommendations.
Scheduled turnarounds and shutdowns are integral to securing equipment reliability. While an optimized focus on turnaround strategy has earned significant attention in refining, petrochemicals and Upstream operations have not developed a similar focus. We believe that there are compelling drivers to take a closer look at offshore Upstream turnarounds.
In offshore Upstream operations, turnarounds are increasingly important due to the high cost of equipment breakdown. This is not due to the repair cost, but rather to the cost associated with production loss. With the current cost of crude oil at 80 to 90 United States dollars (USD) per barrel, lost production is costly.
The impact of production loss is why most offshore operations implement scheduled turnaround shutdowns. Turnarounds are a difficult activity to schedule and approaches to turnaround scheduling vary.
For example, do you carry out your turnaround annually with a shorter duration or do you carry out turnarounds at two, three, or even four-year intervals with a longer shutdown duration? Alternatively, do you carry out turnarounds as an activity while still running your operation?
There are many factors behind optimizing turnaround execution. Two important factors are:
- How the well and reservoir react to a shut in. Some wells take a long time to get back to full flow, while others are flushing production after shutdown, where production losses are often gained rapidly due to increased production.
- The inclusion of predictive/condition-based monitoring and local regulatory requirements on inspections.
Backed-up by the world’s largest database of Upstream turnaround metrics and experts who understand your business, Solomon helps you optimize your turnaround strategy utilizing its Turnaround Excellence methodology.
A sound first approach to turnaround optimization is to evaluate your current turnaround performance and production reliability against other producers. Solomon is currently open for participants to join the 2022 Worldwide Offshore Production Operations Performance Analysis (Offshore Study), which gives you the insight you need to optimize your turnaround strategy.
Please contact us if would like to learn more about the study and how the study uncovers data-driven insight and recommendations to enhance your turnaround strategy.