Originally published in Petroleum Australia, December 2023.
Australia’s oil and gas industry has seen remarkable growth in recent decades. However, the continued decline of Australian petroleum production coincides with a lack of exploration and development offshore of Australia in recent years.
As the sector matures, the focus is increasingly shifting towards the preservation and upkeep of ageing assets. Asset integrity management of these assets has become crucial, as the consequences of failure can be devastating. This article delves into the importance of maintaining integrity in ageing oil and gas assets, identifies high-risk areas, and discusses the challenges that the industry faces amid a declining market and budget constraints.
Jonas De Prose, Applus+ Business Development and Improvement Manager in the Pacific region, compiled this article to highlight the importance of asset integrity management in the oil and gas industry, high-risk areas for asset failure, challenges in a declining market and the role of Applus+ in assisting with the above-highlighted issues.
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