Your oil and gas enterprise needs firm control over its assets and services. Control requires information a real-time, enterprise-wide perspective on how well resources and activities are aligned with business needs. The role of IBM Maximo for Oil and Gas is to provide this view, automating and supporting the processes that allow you to maximize return on investment, improve service levels, streamline service delivery and reduce total costs.

The Advantage: Tap a reservoir of experience

According to Section 404 of the Sarbanes-Oxley Act, companies need to be able to ensure that applications used to process information are fully documented and supported. IBM Maximo for Oil and Gas manages the life-cycle of assets across the chemicals and petroleum value chain by streamlining and automating key asset management processes.

• More than 200 oil and gas organizations (including eight of the top ten) in 51 countries rely on Maximo solutions to help optimize their asset management organizations, decrease the amount of time it takes to schedule and assign work, enhance their efforts to meet safety and quality requirements, and reduce administrative time.
• IBM offers upstream petroleum producers the resources of our vast R&D infrastructure that can help develop pattern recognition and other algorithms.
• With deep industry skills and experience in the petroleum marketplace, we can help you improve production efficiency and reduce lifting costs.

The Benefit: A solution that can adapt to your organization

IBM Maximo for Oil and Gas provides best practices to help improve the productivity of your critical assets and enable your organization to better support people, process and technology. This industry-specific solution helps you track

• Asset management
• Work management
• Inventory and contract management
• Service management
• Purchasing

Maximo helps you create safe and reliable operations with features that include:

• Condition for work aggregate similar jobs across asset, groups of assets, areas or individual locations.
• Prioritization matrix help to optimize planning and scheduling of maintenance by using preset criteria to prioritize critical assets.
• Benefits and losses classify benefits that can be associated with both solutions and improvements, while recording production losses with both work order and location-based reporting.
• Incident reporting identify and track incidents for analysis as related to environmental, health, or production or facility safety.
• Defects reporting capture and track asset-related defect information.

Maximo can help create an environment of rich organizational learning with features that include:

• Asset specifications import ISO14224/API689-based engineering and asset specification to avoid the need to create the data manually and help simplify asset classification.
• Solutions extend existing functionality to support solution ownership, solution benefits, solution log and lessons learned.
• Investigations provide the capability to investigate unresolved incidents and defects, allowing users to record and track results such as After Action Reviews and Root Cause Failure Analysis.

Maximo can help you meet stringent regulatory compliance with features that include:

• Work details identify safety-critical locations and provide a common taxonomy for locations in compliance with industry standards.
• Regulatory compliance support regulations and subsections of regulations, holding details of regulations relevant to planned work and work carried out. 

The Approach: Maximo brings order and safety down under

Huntsman Chemical Company Australia Pty Ltd (Huntsman) is a major hazard facility which produces the chemical building block styrene monomer. To improve competitiveness in a mature market and meet new stringent regulatory conditions, Huntsman chose IBM Maximo to enhance management of its 28,000 equipment assets at its plant in West Footscray, Victoria.

• Maximo software helped to eliminate more than 20 databases and create one central data repository.
• Huntsman now uses Maximo software to demonstrate the integrity of its management systems, and efficiently handle data and approval processes.
• Maximo software also made a significant contribution to Huntsman, achieving a five-year, unencumbered Major Hazard Facility license from WorkSafe, a government Department of Consumer and Employment Protection in Western Australia.

The financial advantage: Bottom-line value in asset management

Demand for oil is expected to increase 35% by 2020. During the same period, demand for gas should increase by 45%. With such high production demand, all assets must be performing at maximum output and efficiency. Any asset failure can be headline news. This type of risk can often be measured in the hundreds of millions of dollars, a risk that you cannot take lightly.

• An asset-intensive company that experiences a severe safety or environmental incident can easily incur a problem measured in the hundreds of millions of dollars.
• Asset-intensive companies that use an enterprise solution for asset management typically end up with only 60 to 80% coverage of their functional requirements, and often develop many customized applications.
• IBM Maximo for Oil and Gas can help you address these important challenges.