Integrity Management pipeline integrity management

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Implementing asset integrity management across all the sectors in the oil & gas industry is extremely critical in the current day scenario. The demand for energy is rising constantly, and there is a decline in productivity among the existing oil & gas fields amidst a sustained low oil & gas price environment. Asset integrity measures help maintain the onshore and offshore assets, ensure minimal unexpected down times and enhance productivity from the existing assets. Moreover, it also ensures that the required business processes, systems, tools, competence, and resources are in place throughout the asset lifecycle. Hence, continued strategic investments in this field are a necessity for the companies in the sector, so as to optimize operations, increase the safety factor during operations, gain maximum benefit from the existing portfolios, and avoid potential environmental risks.  

Asset integrity management services include, design review and verification, inspection, risk assessment, maintenance support (reliability, predictive, and preventive strategies), testing, monitoring, obsolescence mitigation, corrosion services, process safety, mechanical integrity services, and health, safety & environmental strategies (HSE).  Factors, such as, improved profitability and prevention of downtime because of AIM, increasing number of new finds in deep-water and ultra-deep-water, growing focus on operational performance, safety and reliability, stringent government regulations, field development, MRI in the established offshore provinces, etc., are driving the market growth.  North America is the leading market for AIM services, followed by the Asia-Pacific region. The latter has the highest growth rate, and is expected to overtake North America in the next five years.  By country, United States accounted for the largest market share in 2016, among other countries, such as, China, Saudi Arabia, Iran, and Kuwait. The United States is expected to record the fastest growth rate during the forecast period, owing to the growth in oil & gas industry, increased stringency in regulations, and the need to improve efficiency, productivity, safety, and integrity of the assets.