Asset Life Extension
Meet your operating life aspirations as our ageing asset management experts provide a full assessment of your aged assets, plant and systems to optimise your maintenance and inspection expenditure and highlight key ageing threats.
What is an ageing asset?
An ageing plant has typically been operating beyond its initial design life and is likely to have gone through significant changes, ranging from modifications to expansions and design changes.
As assets age, several challenges usually arise, such as the loss of asset-specific knowledge and skills, over or under-maintained equipment and the general degradation of asset infrastructure and the plant.
Challenges facing ageing assets
Loss of knowledge and skills due to the ageing workforce or turnover
Over or under-maintained equipment, leading to inefficiencies or increased risks
Difficulties in purchasing spare parts, as older components may no longer be available
Challenges in obtaining support or technical knowledge from Original Equipment Manufacturers (OEMs), especially when they no longer produce the equipment
Changes in operating or process conditions that can lead to new corrosion and erosion threats
Growth in anomalies or the need for temporary repairs, which can become more frequent over time
General degradation of asset infrastructure and plant, leading to increased maintenance and potential safety risks
Increased operational costs due to the cumulative impact of ageing assets and the associated challenges
Our ageing asset management solutions
Comprehensive structural analysis
Conduct in-depth structural assessments of fixed and floating facilities, including cathodic protection evaluations, to ensure continued safety and compliance with class requirements.
Integrity strategy review
Evaluate and optimise your integrity strategy, addressing plant corrosion, erosion, and degradation threats with tailored mitigation plans to extend asset life and enhance operational safety.
Obsolescence management services
Proactively address obsolescence issues related to spares, software, and OEM/service suppliers, ensuring your assets remain operational and supported as they age.
Material and spares management
Optimise material and spare management processes to ensure critical components are available when needed, minimising downtime and reducing unnecessary inventory costs.
Maintenance strategy review
Refine your maintenance strategy with a focus on regulatory compliance, safety, production efficiency, and environmental protection, ensuring optimal asset performance.
Training and competence
Enhance your team’s expertise with targeted training modules, ensuring that your workforce has the skills and knowledge needed to manage assets effectively.
How our solutions benefit ageing assets
Extend asset life and ensure compliance by working with class
authorities and regulators
Identify and address Single Points of Failure to enhance operational
resilience
Cut maintenance costs by reducing over-maintenance without sacrificing
safety
Scale back maintenance and inspections as operations
wind down, lowering costs while staying compliant
Reduce storage and preservation expenses by optimising
spare parts inventory
Asset life extension case studies and blogs
Asset Vulnerability and Life Extension Study
Challenge faced by the client The operators existing crane had…
Overcoming common challenges associated with aging plants
An aging plant is one that has typically been operating over…
Technical Integrity and Asset Lifetime Extension Assessment
The challenge To develop a measurement tool that that aggregates…
The 2023 Global Maintenance Manager Report
Produced by our Asset & Integrity Management specialists, this report features survey responses from hundreds of maintenance professionals from around the world as well as analysis and tips from industry experts.
Get in touch
By filling in the form below, you can speak to one of our experts to learn more about our solutions, request a quote or book a software demonstration.